IFC, LMI Holdings expand partnership to power Ghana’s industrial growth
Renewable energy infrastructure serving businesses in the Tema and Dawa Industrial Zones is expanding through a new phase of the partnership between IFC, a member of the World Bank Group, and LMI Holdings. The Solar for Industries (SFI) project will provide more reliable and sustainable power to industrial customers. More than 100 businesses across manufacturing, […]
The International Finance Corporation (IFC) and LMI Holdings have expanded their partnership to bolster Ghana's industrial sector through renewables. The Solar for Industries (SFI) project, part of the US$39.5 million financing package, will bolster power supply to businesses in the Tema and Dawa Industrial Zones. Over 100 companies from manufacturing, agro-processing, logistics, and other sectors will gain from the reliable, sustainable energy.
The financing, a second tranche of a US$100 million facility, includes a first tranche of US$21 million committed in FY24 and disbursed in FY25. The project, valued at US$39.5 million, aims to complete a 100 MW phase of a 200 MW solar PV plant in the Dawa Industrial Zone. This renewable energy initiative aligns with Ghana's National Energy Transition Framework, promoting green energy while maintaining energy security and socio-economic growth.
The investment complements LMI's existing infrastructure in both industrial zones and follows a prior IFC-LMI collaboration on a 16.82 MW rooftop solar facility and a large water treatment plant at the Tema and Dawa Industrial Zones, respectively.
Written by urgent.news from Joy Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
