\n
Ghana on July 25 2024, unveiled the first phase of its 1000 megawatts rooftop solar project to provide power for companies in the free zone enclave.<\/strong><\/p>\nUpon completion, the solar project, which will be the largest solar plant in Africa and the second largest in the world, will pave the way for companies to gain access to the European market (EU). Once operational, it is projected that the solar system will annually produce 24,750 MWh of clean, stable, and sustainable electricity.<\/p>\n
Mr. Seth Mahu, the Director of Renewable Energy at the Ministry of Energy, told the Ghana News Agency that the rooftop project is significant, explaining that it would increase the country\u2019s renewable energy stock to more than 200 megawatts of installed capacity, representing 4.2 percent.<\/p>\n
\u201cFrom where I sit at the Ministry, I know that between the years 2024 and 2035, the country will attract not less than two billion dollars in investment in that sector,\u201d he said.<\/p>\n
\u201cIn the last decade, the cost of solar has dropped, making it cheaper to produce electricity from solar than from other plants. If this trend continues, the cost of production will reduce, which will scale down the unit price of products.\u201d<\/p>\n
The Director of Renewable Energy noted that the project would contribute to reducing the country\u2019s carbon footprint under the nationally determined contributions and encourage \u2018green\u2019 production, a requirement for the EU market.<\/p>\n
Mr. Mahu said the project would provide different levels of sustainable jobs over the next 20 years, which would help grow the economy.<\/p>\n
\u201cSolar is now very competitive. The advent of the battery energy storage system is addressing unstable power in the solar sector,\u201d he said.<\/p>\n
Owned by Helios Solar Company (Helios), part of LMI Holdings, the solar rooftop project will supply 16.82 megawatts of energy to Helios and its partners.<\/p>\n
The innovative solar system is funded by the International Finance Corporation (IFC) as part of an all-encompassing $30 million clean power and water deal with LMI Holdings to support job creation and greener, more sustainable, and more competitive industrial development in the country.<\/p>\n
According to the Ghana Energy and Investment Plan, the country is highly likely to play a key role in the generation mix.<\/p>\n
The plan envisages that solar might account for the majority of capacity with over 150 gigawatts by 2060. However, the plan also states that the rapid build-out of solar capacities would require significant technical, financial, and policy support to simplify and accelerate project development.<\/p>\n
GNA <\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Ghana on July 25 2024, unveiled the first phase of its 1000 megawatts rooftop solar project to provide power for companies in the free zone enclave. Upon completion, the solar project, which will be the largest solar plant in Africa and the second largest in the world, will pave the way for companies to gain […]<\/p>\n","protected":false},"author":1,"featured_media":203386,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-203383","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
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