An emerging markets investing firm, eleQtra, will team up with an African power company, Engie, to develop a 120 million-U.S. Dollar wind power project in Southern Ghana.
The project, located at Ada in the eastern part of the Greater Accra Region (109 km east of the capital), is aimed at supporting the vision of the country to ensure at least 10 percent of its power mix comes from renewable energy by 2030.
The two companies have signed a Joint Development Agreement that defines the terms and schedule for the development and construction of the 50 MW Ada Wind power project. The project is expected to require an investment of approximately 120 million dollars and start operations early 2019 with Engie as a 40 percent partner, said a release from Engie.
The project is in line with Ghana's goal of becoming a power generation hub in West Africa with the benefit of exporting power to its neighbors through the West African Power Pool. Philippe Miquel, Regional Manager, Western & Central Africa for Engie, observed that the Ghanaian government was looking to strengthen its renewable energy industry and putting in place a regulatory framework that should encourage the electrification of the country in an affordable and sustainable manner.
"The Ada Wind Project will be instrumental in the diversification of Ghana's energy portfolio. Our partnership will bring the technical experience, local knowledge and the funding required for developing, constructing and delivering this competitive 50 MW wind project," he stated. Engie's main positions in Africa are in Morocco and South Africa where the Group manages and develops power production capacity from a variety of energy sources. Enditem