Owned by Helios Solar Company (Helios), part of LMI Holdings, and located in the Tema Freezone, situated outside of Accra, the solar rooftop project will supply 16.82 megawatt of energy to Helios and its partners. The innovative solar system is funded by the International Finance Corporation (IFC) as part of an all-encompassing $30million clean power and water deal with LMI Holdings to support job creation and greener, more sustainable, and more competitive industrial development in the country.
The PV Solar project is designed and engineered by Ghana-based solar energy firm, Dutch and Co. who are the PV EPC and O&M contractor, and whose work involves the installation of the solar system using 29,261 solar panels of the latest N-type technology across a rooftop area of 92,000 m2 of the IWC Mega-warehouse located in the Tema Freezone. A total of 128 Ghanaian nationals are directly employed in the implementation of the solar project.
Once in use, it is projected that the solar system will annually produce 24,750 MWh of clean, stable and sustainable electricity, and will reduce Ghana’s emissions by approximately 11,000 tonnes of carbon dioxide each year, contributing to Ghana’s efforts to address the negative impact of climate change on the country.
During his visit, the Honorable Minister expressed his delight at the project. Commenting on the solar rooftop project, Dutch and Co.’s General Manager said, “According to the World Economic Forum, the African continent has huge solar energy potential which is significantly untapped. We are proud to be playing our part in changing this narrative by designing and installing what will be Africa’s largest solar rooftop project on behalf of Helios and LMI Holdings and to assist Ghana in meeting its climate change targets.”
Kyle Kelhofer, IFC’s Senior Country Manager for Ghana, said, “In just a little over a year after IFC began this partnership with LMI, we are energized to see the jobs are getting created and the private sector is playing its role in leading Ghana towards a greener, more prosperous, and more sustainable future.”
LMI Holdings, a highly diversified Ghanaian company with interests in the construction, property development, logistics, utilities and ICT sectors, is the primary developer of the Tema FZ, which hosts more than 80 companies operating in various sectors, including building materials and agro-processing:
IFC - a member of the World Bank Group–is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises:
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