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Architecture Design and Construction Services Lahore

IFC Considers Loan For Ghana Industrial Solar Project


The IFC is mulling a US$100 million loan package for the development and operation of solar power in the Dawa Industrial Zone and Meridian Industrial Park in Ghana’s Greater Accra region.
The loan would be for Solar For Industries (SFI), a subsidiary of Ghana’s LMI Holdings, and the project involves building a 150MW solar photovoltaic (PV) plant comprising ground-mounted solar panels fitted on single-axis trackers at the Dawa Industrial Zone.
The project is planned to be executed over three to five years in three phases. A contractor has yet to be appointed.
Enclave Power Company Limited (EPCL), also an LMI Holdings subsidiary, will be the offtaker for the power, distributing it to tenants in the industrial zone. Electricity will also be transmitted from Dawa to the Meridian Industrial Park through existing state-owned lines.
Dawa Industrial Zone is a 2,000-acre development housing light and heavy industries as well as warehousing and logistics. It is located along the Trans-West African highway in Greater Accra. 
Meridian Industrial Park is located in Tema and features 250,000 square metres of warehousing as well as a rail link to Tema port, and a container terminal. 
Helios Solar Company, part of LMI Holdings, is currently executing a 17MW rooftop solar project at the park. It involves the installation of 29,252 solar panels across an area of 95,000 square metres on the roof of a warehouse owned by another LMI Holdings unit, International Warehousing Company.
Once commissioned, the solar system will produce 24,750 MWh a year of electricity. It is being built by Ghana-based solar energy firm Dutch and Company, which is also the O&M contractor.
The rooftop solar project is fully funded by the IFC under a US$30 million clean power and water loan agreement signed in July 2022 with LMI Holdings to support the group’s development plans in the two industrial zones. 
The IFC loan is also supporting the construction of a water treatment and distribution plant with an initial capacity of 4,000 cubic metres a day to serve businesses in the Dawa Industrial Zone. 
Photo: Dawa Industrial Zone (Source: Dawa Industrial Zone)


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