Siginik Energy Limited, a Canadian Company registered in Ghana, has signed a definitive Power Purchase Agreement (PPA) with the Electricity Company of Ghana (ECG) to build a 50MW ground-mounted tracking solar installation in the Northern Region.
By the arrangement, the power produced will be purchased by the ECG for a period of 25 years
The Volta River Authority estimates that for a country growing rapidly at a rate of about 10 percent per year and using under 2,000 megawatts of electricity, Ghana ought to be bringing on-stream 200 megawatts of new capacity every year.
Additionally, to achieve energy security in light of the country’s robust economic growth requires diversification in both energy-mix and energy sources.
However, government alone is not able to provide the huge investment in the generation of additional new capacity.
Daniel McCormick, Managing Partner, Siginik, said ““Siginik is very excited about this timely opportunity. Ghana is a fast-growing economy in great need of power and we are happy we can contribute in a green, efficient way.
“The project will benefit the general Ghanaian community as they can have more consistent power and in the short-term similar to the effects of the Green Energy Act in Ontario. It will facilitate the creation of a highly skilled green labour force which will be able to build future green and solar projects in the ECOWAS sub-region.
“The installation is projected to create roughly 800 skilled and highly skilled jobs in the Bole District of the Northern Region of Ghana, and Siginik expects to break ground within the next 6 months,” Mr. Ransome Hamenya, Director, Siginik Energy Limited said.
“Siginik and ECG intend expanding on this initial project with a view to additional installations in Ghana. Once completed, the solar installation will be the largest in West Africa and one of the largest on the continent, an area with ideal solar radiation,” Mr. Hamenya added.
Divisional Manager, Regulatory & Government Affairs, ECG, said “ECG is very excited about working with Siginik on one of West Africa's largest solar installations. ECG is committed to providing its customers with consistent power with an increased focus on 'green' energy”.
“Our partnership with Siginik is very strong and we are keen on increasing the scope of green energy projects with them.”
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