WhiteCap Development Limited Announces the Successful Completion of the Development Phase on 200 MW Solar Facilities in Ghana
WhiteCap Development Limited, a privately held independent power producer based in Ghana and the United States, is proud to announce the completion of the development phase on 200 MW solar facilities called Savannah Plains I and II in northern Ghana. The projects are placed 100 MW’s in Zoggu and 100 MW’s in Tampion with a national grid connection at Savalugu. This project, which represents nearly ten percent of the country’s installed generation capacity, is the largest solar development in Sub-Saharan Africa and an important power infrastructure project to address the energy deficit in Ghana and West Africa.
The project was made feasible by Ghana’s National Energy Policy, which encourages renewables in the generation mix of the country, a well-defined regulatory regime and a Feed-in-Tariff program designed to attract direct foreign investment. Financial incentives provided by the Ghana Investment Promotion Centre (GIPC) were also a strong factor determining the feasibility of the investment. The project’s capital cost is estimated at approximately USD $450 million and the construction time to complete is projected to be 16 months.
The off-taker for the power is Electric Company of Ghana (the national utility) and the grid connection is being accommodated by GRIDCO, the national grid company. The solar fields will consist of ground-mounted, fixed-tilt arrays holding nearly 750,000 panels estimated to generate 420 million kW hours of power annually. The financing for the project is being supported by a Partial Risk Guarantee from the Government of Ghana and issued by the World Bank. The project will be built-out in phases with the first phase consisting of 25 MW’s in Zoggu and beginning in early 2016 or as soon as financing and EPC services are finalized.
Edmund Yiadom, WhiteCap’s Chairman and CEO, commented, “this project will provide electricity, jobs and environmental benefits which will support Ghana’s growing economy.” Lawrence R. Kunkel, the company’s President and Chief Strategy Officer, advised, “Ghana is the perfect country for this project. Its energy policy is supportive of renewables and this project will position Ghana as the power leader in West Africa and the West African Power Pool.”