Siginik Energy Ltd., a wholly owned subsidiary of Episolar Inc., has signed a definitive power purchase agreement (PPA) with the Electricity Company of Ghana Ltd. (ECG), the country's second largest utility, to build a 50 MW ground-mounted tracking solar installation. The power produced will be purchased by the ECG for a period of 25 years.
The installation will be the largest in West Africa and one of the largest on the continent, according to Siginik.
The project is projected to create roughly 800 highly skilled jobs, including in manufacturing, in the northwest region of Ghana. Siginik expects to break ground within the next six months.
Energy consumption within Ghana has been growing at 10% to 15% per year, while supply is growing at a significantly lower rate, Siginik says. Experts believe that Ghana needs 5 GW of energy in order to keep pace with demand – more than double its current available power.