Ghana’s solar energy efforts attracts $33 million investment

Ghana’s solar energy story has led the way as Puma Energy has decided to invest US$33 million into offering solar solutions to its commercial and industrial customers in Ghana and across Africa, effective 2023.

This follows the success of the company’s fourteen (14) solar projects at its retail stations and terminals in Ghana.

According to statement issued, the energy firm's announcement is aimed at demonstrating the effectiveness of the concept of solar installation works in the country.

It will also offer its commercial and industrial customers the chance to install solar on their sites.

“In July 2022, Puma Energy’s ESG strategy set out plans to install solar generation at 200 sites across its global network by the end of 2022. The fourteen sites in Ghana contribute to the target. These projects benefit from Ghana’s high solar energy potential and have a total capacity of 447kWp and associated battery storage of 227 kWh.

“By 2027, 30 percent of its income (EBITDA) in Africa will come from clean and transition fuels and the roll out of solar generation partnerships with Puma’s commercial and industrial customers will contribute to that aim,” the statement said.

Christophe Dantcikian, Puma Energy GM in Ghana in his remarks said, “the roll out of solar generation across our assets in Ghana has been a huge success and proves the technology works from an economic and technical perspective.

“Africa and Ghana in particular, have a great potential for solar power. So, having shown the concept works we are now offering our commercial and industrial customers the chance to reduce their greenhouse gas emissions. Ghana was the first country in Africa to benefit from our programme to add solar power to our sites and we are now excited to be able to share the benefits of our solar expertise with our customers,” he noted.

Meanwhile, some African countries which are expected to benefit from this package alongside Ghana are Botswana, Malawi, Namibia, Tanzania and Zambia.

As part of efforts to promote clean energy sources, the energy firm has made a commitment to achieving 30 percent of its Africa EBITDA from clean and transition fuels in its 2022 Sustainability Report and ESG Strategy.

This also comes on the back of completion for solarisation of Puma Service Stations in Ghana, the roll out of solar solutions for Puma Energy Commercial and Industrial customers which fall in line with the vision.

The solar power generation at 11 of the 14 sites is supported by battery storage, meaning the sites can run from the power of the sun up to 100 percent of the time.

Christophe Dantcikian is Puma Energy GM in Ghana

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