M a r k e t N e w s

Mainstream to acquire Ghana's first utility-scale wind farm

Posted on : Friday, 31st October 2014

Mainstream Renewable Power has entered into a US$ 525m deal with Swiss wind farm developer, NEK Umwelttechnik that will see it purchase the 225MW Ayitepa Wind Farm, Ghana’s first utility-scale wind farm.

The agreement is expected to reach a financial close next year, while the wind farm will start generating power by 2016. The two companies will, in the meantime, co-develop the facility until the financial close is reached. Mainstream Renewable Power will then take over the development and operation of the project which is located 40 kilometres from Accra.
The wind farm project, now in its final stages of development, will generate approximately 10% of Ghana’s total electricity generation capacity which currently stands at 2,000MW, Mainstream said in a statement.
Ghana’s Ministry of Energy and petroleum has promised full support for the project, with the minister, Mr. Wisdom Ahiataku-Togobo describing the agreement as one that will accelerate the realization of wind farms in Ghana.
Mainstream Chief Executive, Eddie O’Connor said that the wind farm is the ideal solution for Ghana, as the country needs large quantities of electricity. “Wind and solar are the only proven technologies in the world today which can achieve the dual objectives of speed deployment and scale. The Ayitepa Wind Farm is well advanced and can be generating electricity 18 months from now. No other technology can match this in terms of speed and delivery,” he added.

Source : www.constructionreviewonline.com
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