REDAVIA keeps investing in the solar energy sector in Ghana. Just weeks ago, the Special Ice company, a Ghanaian based mineral water company, announced a contract with REDAVIA for an ice factory going solar. Now, REDAVIA signs another solar energy investment deal. Together with the Electrification Financing Initiative (ElectriFI), they will expand the solar energy in the commercial and industrial (C&I) sector in Ghana. And this has not been the only similar investment recently. That is to say, a $4 million investment deal for the C&I sector was signed in October 2018 as well.
The solar energy investment
In total, the project will consist of 15MWp of solar energy. Specifically, the purchasers of this renewable energy will come from the commercial and industrial sector. Examples of such purchasers are manufacturing companies (like Special Ice), educational institutions and agro-food companies. More on the project is available here.
REDAVIA is a German-based company, active in West and East Africa. At this point, they have a total of 2000 kWp solar installed. Their goal is to provide an affordable, clean and reliable source for energy. The company mostly works with solar farms as an energy source. Parts of these farms are then leased to purchasers of energy. The founder and CEO of REDAVIA has said to be very proud of the part they play in Ghana and the benefits they provide to customers.
The Electrification Financing Initiative (ElectriFI) is a financing facility, which is financed by the European Commission. Furthermore, the Association of European Development Finance Institutions manages the initiative. Their goal is to increase the access to sustainable and affordable energy. All projects they fund are for populations in rural areas without a stable connection to the grid, like this one in Ghana. In addition, Electrify’s Fund Manager declared their delight in partnering up with REDAVIA.
More on solar companies in Ghana.