MINISTER OF ENERGY PAYS WORKING VISIT TO HELIOS SOLAR COMPANY PLANT – 16.8 MWP CAPACITY ROOF-TOP SOLAR INSTALLATION – LARGEST ROOFTOP SOLAR PLANT IN AFRICA

ACCRA, Ghana, November 27th, 2023 – The Minister of Energy, Honorable Matthew Opoku Prempeh paid a working visit today to the site of AFRICA’S LARGEST SOLAR ROOFTOP PROJECT. Owned by Helios Solar Company (Helios), part of the LMI Holdings Group, and located in the Tema Freezone, the rooftop solar project will supply 16.82 megawatt of energy to Helios and its partners. This achievement by Helios Solar represents a significant milestone for the company and underscores its commitment to facilitating Ghana’s industrialization ambitions.

The Project is fully funded by the International Finance Corporation (IFC) as part of $30 million clean power and water deal with LMI Holdings to support job creation and greener, more sustainable, and more competitive industrial development in the country. The solar plant , compared with current thermal power on the national grid, is expected, to reduce Ghana’s emissions by approximately 13,000 tons of CO2 equivalent annually. The PV Solar project involves the installation of 29,252 solar panels of the latest Ntype technology across a rooftop area of 95,000m2 of the International Warehousing Company Megawarehouse located in the Tema Freezone. A total of 128 Ghanaian nationals are directly employed in the implementation of the solar project. Once in use, it is projected that the solar system will annually produce 24,750 MWh of clean, stable and sustainable electricity, and this quantum of power generated is equivalent to the annual consumption of 55,000 homes in other words the capacity of the plant can power 55,000 homes. The PV Solar project is engineered by Ghana-based solar energy firm, Dutch and Co. who are the EPC and O&M contractor, on the project.

“This project demonstrates how the private sector can bring effective solutions to development challenges and support job-creation. Through this investment, IFC’s first that is funding both infrastructure and development in an industrial special economic zone in sub-Saharan Africa, IFC is supporting Ghana’s industrialization ambitions for a greener and more sustainable future,” said Kyle Kelhofer, IFC’s Senior Country Manager for Ghana.

“As an indigenous Ghanaian company, LMI is committed to the task of facilitating our country’s. industrialization ambitions and boosting exports. This partnership with IFC gives LMI the means and space to make big bets in Ghana and beyond. Through this investment, the project will demonstrate how the private sector can bring effective solutions to development challenges. Helios Solar of LMI Holdings seek to supporting Ghana’s industrialization ambitions for a greener and more sustainable future and support job-creation,” said Kojo Aduhene, LMI’s CEO.

About LMI HOLDINGS

LMI Holdings is an industrial and property development group offering construction, land development, utilities and logistics services in Ghana. LMI is wholly owned by Mr. Kojo Aduhene, a Ghanaian entrepreneur. LMI, a highly diversified Ghanaian company with interests in the construction, property development, logistics, utilities, and ICT sectors, is the primary developer of the Tema FZ, which hosts more than 80companies operating in various sectors, including building materials and Agro-processing. LMI has also embarked on developing its second industrial park with a total area of 2,000 acres, as part of a new city development, Dawa City, 40 kilometers to the east of Accra.

https://www.linkedin.com/company/lmiholdings/

https://www.linkedin.com/company/epcghana/

https://www.linkedin.com/company/southern-utilities-limited

About IFC

IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic.

www.facebook.com/IFCAfrica

www.twitter.com/IFCAfrica www.youtube.com/

IFCvideocasts www.ifc.org/SocialMediaIndex