CrossBoundary Energy Ghana to build Ghana’s first PPA-financed solar plant for Kasapreko Company Ltd

14 January 2019 /

This is Ghana’s first PPA-financed solar plant for a commercial customer. CrossBoundary Energy Ghana, the first licensed operator to finance solar PPAs for Ghanaian businesses, will operate the rooftop facility on behalf of Kasapreko as part of a 16-year solar services agreement. Under the agreement, Kasapreko will only pay for solar power produced, receiving a single monthly bill that incorporates all maintenance, monitoring, insurance and financing costs.

Yingli Namene originated the solar project opportunity with Kasapreko and together with SolarAfrica led design, procurement, and construction of the plant. CBE Ghana has retained Yingli Namene to continue provision of operations and maintenance services for the solar facility in its first year, with SolarAfrica responsible for asset management and performance monitoring.

The solar plant will supply 570 kWh annually to support the needs of the bottling facility and help to displace power supplied by diesel generators at the height of the day. Solar will also allow Kasapreko to reduce its carbon emissions by over 4,600 tonnes over the lifespan of the plant.

Richard Adjei, CEO of Kasapreko Company Limited says, “Our company produces first-class beverages using authentic traditional blends and world-class technology. CrossBoundary Energy Ghana will supply renewable power to our largest industrial facility, allowing us to focus on serving our customers and shareholders, as well as helping our environment.”

Femi Fadugba, Head of Business Development for CrossBoundary Energy Ghana says, “Kasapreko is one of Ghana’s most successful home-grown companies, whose fully modernized operations are best-in-class. CBE Ghana’s solar solution supplies the company with clean power at a discount to current energy costs, and our financing eliminated the need for any upfront spending by Kasapreko. We are pleased to support Kasapreko’s continued growth and success in Ghana through this landmark solar project.”

The plant has supported employment of 23 engineering and construction professionals in Ghana during its installation phase, and Yingli Namene’s local team, based in Accra, will continue to service the solar plant during its operation.

“Yingli Namene has been present in the Ghanaian market since the incorporation of Yingli Namene West Africa in 2015, with a mission to bring solar power to the West African market and maximise its abundant solar resource”, says Firmin Nkamleu Ngassam, Managing Director of Yingli Namene West Africa. “We are delighted to have played a critical role in delivering this solar installation for a valued customer like Kasapreko. CBE Ghana’s fully-financed solution was a key enabler of the project, and we look forward to continued work together to fully supply Kasapreko’s solar energy needs.”

The PV system has been designed to optimally integrate with Kasapreko’s existing power sources and can be expanded to supply Kasapreko with additional solar power as the company grows.

Across Sub-Saharan Africa, access to reliable, affordable electricity has been identified as one of the greatest obstacles to growth. Even though the cost of solar power continues to fall, enterprises on the continent lag their global peers in taking up solar due to the high upfront cost of purchase and the technical challenge of owning and maintaining a solar power facility.

In 2011, Ghana’s Renewable Energy Act was enacted to fast track the development of renewable energy sources and increase the contribution of renewable energy in the economy to 10%. By harnessing the power of global capital, Ghana’s renewable energy sector is evolving into a significant contributor to the economy, supporting local jobs and improving power costs for industrial enterprises.