The Wind Energy Project Ayitepa, which is being developed by us on behalf of our contractual partner Upwind International AG, has received the final construction permit from the Energy Commission at the beginning of September 2015. For now, the permit was issued for the planned first building phase of 150 MW installed capacity.

With this important project development step all relevant conditions for commencing with the construction of the wind farm have been fulfilled and the according permits issued. Now only the signing of the Power Purchase Agreement with the Electricity Company of Ghana is pending for this ambitious project; this document however has already been negotiated and initialled so that we expect the signing to take place in the near future.

We reckon that financial close for the Wind Farm Ayitepa will be achieved within the coming months so that construction can commence on schedule in the 2nd quarter of 2016.