Mainstream Renewable Power Buys $525 Million Wind Farm in GhanaLouise Downing
Mainstream Renewable Power Ltd., an Irish clean-energy developer, bought a $525 million wind farm project in Ghana from Switzerland’s NEK Umwelttechnik AG.
The project on Ghana’s east coast will have a 225-megawatt capacity and, once fully operational, it’s expected to generate about 10 percent of the country’s available electricity generation, Dublin-based Mainstream said today in a statement.
The companies will develop the site together until the project’s financial close expected next year and the wind farm should start working in early 2016.
Ghana offers premium payments for renewable generators through its feed-in-tariff program. It’s aiming for 500 megawatts of installed clean energy by 2020.