By Edward Dankwah (Stringer)
Accra, Sept. 26, GNA – The International Finance Corporation (IFC) and LMI Holdings have expanded their partnership to provide renewable energy infrastructure to businesses in the Tema and Dawa Industrial Zones.
The new phase of the partnership involves the Solar for Industries (SFI) project, which is expected to provide more reliable and sustainable power to industrial customers.
A statement issued in Accra said more than 100 businesses operating in manufacturing, agro-processing, logistics and other industries across the two industrial zones are expected to benefit from the project.
The project is also expected to create about 250 direct and 500 indirect jobs during construction, while sustaining 19 permanent operational jobs after construction.
It said the US$39.5 million financing package would support completion of the initial 100-megawatt phase of a 200-megawatt solar photovoltaic project located in the Dawa Industrial Zone.
The statement said the financing represents the second tranche of a US$100 million facility, following a first tranche of US$21 million committed by IFC in financial year 2024 and disbursed in financial year 2025.
It said the project was expected to support Ghana’s efforts to expand manufacturing and increase local value addition by providing reliable and affordable renewable energy to industrial customers.
The solar facility will also enable businesses to reduce emissions from their manufacturing value chains, improve operational efficiency and expand their activities.
The investment complements LMI Holdings’ integrated infrastructure across the Tema and Dawa Industrial Zones, including electricity, water, logistics and digital services.
It also aligns with Ghana’s National Energy Transition Framework, which promotes increased use of renewable energy while balancing energy security with socio-economic development needs.
The financing package combines IFC’s own capital, support from the International Development Association’s Private Sector Window and directly mobilised private capital.
The statement said the combination of the financing sources is expected to increase the capital available to complete the solar facility while helping to improve its affordability.
“The investment builds on an earlier partnership between IFC and LMI Holdings that supported the development of a 16.82-megawatt rooftop solar facility at the Tema Industrial Zone,” it added.
The earlier partnership also supported a 11,000-cubic-metre-per-day water treatment plant at the Dawa Industrial Zone.
It said the rooftop solar facility was described as the largest operating installation of its kind in Africa, further demonstrating the partnership’s focus on renewable energy and sustainable industrial infrastructure.
GNA
Edited by Benjamin Mensah