LMI Holdings, a wholly-owned Ghanaian firm, has commissioned the largest rooftop solar project in Africa.

The 16.82 MWp solar project, the second largest of its kind in the world, is located in the Tema Free Zone enclave.

Spanning one million square feet and costing $17 million, the project currently supplies between 10 to 15 per cent of the power needs for industries in the Free Zone Enclave.

At the commissioning, Adlai Opoku-Boamah, Managing Director of LMI Holdings, described the project as a significant milestone toward the company’s dream of energy independence and environmental stewardship.

“Since we in LMI Holdings are proud of this great achievement, it is important to state that this is only a first step into the renewable energy generation space and it would certainly not be our last.”

He revealed that the company aims to generate up to 1,000 MWp from renewable sources by 2030.

“We in LMI Holdings have set for ourselves the even more ambitious and audacious target of generating up to 1,000 MWp of renewable energy by the year 2030.”

He added, “We have already secured a 2,300-acre land bank in Dawa to be developed into a solar park. Over the next six years, LMI Holdings intends to invest over $1 billion into the local economy to expand our renewable energy program, develop and expand our industrial zones and business parks, and provide the infrastructure and services to catalsze Africa’s industrial revolution.”

The project was financed with support from the International Finance Corporation (IFC), which approved an additional $110 million facility in December 2023 to develop an additional 150 MWp of solar energy in Dawa.

Opoku-Boamah explained, “Businesses that choose to locate within the Dawa Industrial Zone will be assured of continuous, uninterrupted power supply as well as a 10% rebate on electricity tariffs for the next five years.”

Senior Country Officer for Ghana, Cemile Hacibeyoglu, stated that the IFC has invested $2.5 billion in various sectors of the Ghanaian economy over the last decade.

She stated that the IFC supports LMI Holdings’ renewable energy drive as part of its commitment to low-carbon development aligned with the Paris Agreement.

The rooftop solar project in the Tema Free Zone and the water treatment plant in Dawa are expected to reduce Ghana’s emissions by up to 10,000 tons of carbon dioxide.

Herbert Krapah, the Minister of State at the Energy Ministry, commended LMI Holdings for achieving the feat of owning the largest rooftop solar project in Africa.

He noted that the 16.82 MWp project will help the government reach its net zero target by 2060.

According to Krapah, Africa has abundant sunshine but faces financing challenges. He explained that investments in renewable energy are cheaper in Europe compared to Africa, where access and cost are key barriers to the energy transition.

He also announced the government’s plans to roll out a 2,000 MW solar power project in the northern parts of the country.

Industries in the Free Zone enclave in Tema are already enjoying uninterrupted energy from the rooftop solar project.