Power Purchase Agreement signed with Electricity Company of Ghana (ECG) for the 225 MW Ayitepa Wind Farm
On the 9th of May 2016, the Power Purchase Agreement for the 225 MW wind farm at Ayitepa was signed at the Headquarters of the Electricity Company of Ghana Ltd. (ECG) in Accra. This happened after a long period of negotiations between the Ghanaian authorities and us. This PPA was originally already initialed between the parties back in March 2015.
With this very important project development step, the last document required for the completion of the permitting process could be secured. The Ayitepa wind farm has now received all permits and contracts to reach financial close in the near future, apart from an agreement related to the Government Support Arrangements which are required by the lenders. These negotiations are still ongoing.
The first large scale wind project in West Africa, being with 225 MW also one of the biggest of its kind on the whole continent, will hopefully contribute in reducing the year-long power supply crisis in Ghana called “dumsor”. This crises affected both, the population and the economy in Ghana, heavily - a situation which will hopefully improved with the operation of this renewable energy project.
The Power Purchase Agreement is two-phased and secures to the project company Upwind Ayitepa Ltd. the delivery of 150 MW of clean wind power in a first phase with the clear intention to increase the project to 225 MW in a second phase. It is the first PPA signed in Ghana for a wind park and therefore has a pioneering character.
The wind farm Ayitepa is being developed by us for Lekela Power BV, a joint venture partnership between Mainstream Renewable Power Ltd. and Actis, a leading investor in emerging markets.
For more information on the Ayitepa wind farm, please check also www.upwindayitepa.com.
Mehr Information zum Windpark Ayitepa finden sich auch unter www.upwindayitepa.com.