Irish clean energy firm Mainstream Renewable Power has agreed to acquire 225MW Ayitepa Wind Farm in Ghana from Swiss wind farm developer NEK Umwelttechnik.
An agreement to this effect was signed between both the companies.
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As per the agreed terms, Mainstream will manage the construction as well as the operations and maintenance of the wind farm.
Located 40 km from Accra on the east coast of Ghana, the $525m wind project will reach financial close in 2015.
Expected to become operational in 2016, the wind farm will generate approximately 10% of Ghana’s total electricity generation capacity, which currently stands at 2,000MW.
Mainstream Renewable Power chief executive Eddie O’Connor said: "This wind farm is the ideal solution for Ghana because wind and solar power are the only proven technologies in the world which can achieve the dual objectives of speed of deployment and scale.
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By GlobalData"The Ayitepa Wind Farm is well advanced and can be generating electricity in less than 18 months from now. No other generation technology can match that in terms of speed of deployment."
Ministry of Energy and Petroleum Renewable Energy director Wisdom Ahiataku-Togobo said: "The project is consistent with government policy to increase the contribution of renewable energy in the electricity generation mix.
"The Renewable Energy Act 2011 (Act) provides the necessary legal and fiscal incentives including feed-in-tariff (sufficient security) to ensure return on investment by Independent Power Producers."
