News and updates from the continent

Ghana invests heavily in power parks

Ghana invests heavily in power parks

Mar 11, 2014

11 March 2014 ~ Ghana has made a major investment in solar energy, with plans to build over 600 megawatts worth of photovoltaic power parks. The Sustainable Equities Group – parent company of PN Solar (PNS) and International Solar Utilities (ISU) – says it is working with Ghana to open a solar panel factory with an annual production of about 300 additional megawatts that will be made available to neighbouring countries.

In 2013, Mr Seth Adjei Baah, President of Ghana Chamber of Commerce and Industry, said Ghana is one of the fastest growing economies in sub-Saharan Africa. The country’s large investment in solar energy adds to its attractiveness for trade and investment, and demand for power is reportedly growing at 10 – 15 percent a year.

SEG has reported that PN Solar Ghana will manufacture glass-on-glass solar panels, which will be ready to go into operation in a year. The new plant will hire some 300 local workers for construction and 350 employees once the facility is up and running.

The 600 megawatts of power will be divided into six 100-megawatt solar parks, with each costing about $125 million. Once completed, the project will add about 28 percent to Ghana’s current electrical generating capacity. PN Solar, the photovoltaic (PV) solar panel manufacturing arm of SEG, has indicated that it will contribute part of its profits to community initiatives.

The Sustainable Equities Group (SEG) was established to develop renewable and sustainable energy projects around the world. SEG is registered in Luxemburg and is the parent company with 100% ownership of PN Solar (PNS), International Solar Utilities (ISU), and United Carbon Credit Development (UCCD).

Leave a Reply

Your email address will not be published. Required fields are marked *