Ghana to receive US $2M boost for solar energy sector

Ghana to receive US $2M boost for solar energy sector

A US $2m financial deal has been signed between REDAVIA, German-based solar company and Electrification Financing Initiative(ElectriFI), to provide affordable electricity to local business communities in Ghana.

Dominiek Deconinck, ElectriFI Fund Manager confirmed the reports and said the investment will bring around 15 MWp of solar PV assets to commercial and industrial off-takers such as educational institutions, agro-foods and manufacturing companies in the country.

“We are delighted to partner with REDAVIA to bring reliable, affordable and clean electricity to the local business community in Ghana. REDAVIA’s solar farms and lease arrangements show high flexibility and levels of performance. We are thrilled to be part of the journey,” said Dominiek Deconinck.

Also read: Kenya set to construct 40MW solar plant in Eldoret

Innovative debt financing deal

The deal which is also in conjunction with the recently signed US $4m innovative debt financing deal from responsAbility Investments AG, targets the local business community including agro-foods processing, manufacturing, public infrastructure, as well as hospitality and real estate companies. The solar company supports the reduction of carbon emission and increasing the impact on a sustainable society through the use of cost-effective and cleaner energy mix such as diesel generators, batteries or as a complement to grid-connected power.

“We are very proud of our footprint in Ghana so far and the benefits that we are able to deliver to our customers. ElectriFI’s funding will be a stepping stone towards the international expansion of our successful delivery model in Ghana,” stated Erwin Spolders, CEO and Founder, REDAVIA.

About REDAVIA

The German based solar company, REDAVIA has a proven track record in solar farm design, manufacturing, deployment and  maintenance. Their main targets for the solar company are mostly the local business community. Through subsidiaries,REDAVIA has offered solar power for business in Tanzania, Kenya and Ghana.

55 mini-grid electrification systems with an average capacity of 100 kilowatts will also be established. The systems will be based on solar PV technology, which will be hybridized with other generation options to serve islands and off-grid communities. Ghana receives an abundance of sunshine with many parts of the country enjoying 5.524 kwh/m2/day, all year round.

 

1 COMMENT

  1. Hi, Thanks for your great article. I think as a solar panels expert, the most important thing is that solar energy is a truly renewable energy source. It can be harnessed in all areas of the world and is available every day. We cannot run out of solar energy, unlike some of the other sources of energy. Solar energy will be accessible as long as we have the sun, therefore sunlight will be available to us for at least 5 billion years when according to scientists the sun is going to die. So If someone lives in an area with high energy rates and a suitable solar rating and can afford the initial investment, it’s worth installing solar panels in your home while the 30% tax break is in place — for the good of the environment and your wallet. But don’t expect to eliminate your power bill overnight.

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