Melcom Group has partnered with Societe General Ghana (SG Ghana) to install a 1.6-megawatt (MW) rooftop solar photovoltaic (PV) power system at its supermall on Spintex Road in Accra.
Solar Project Completed Within Three Months
Completed in just three months, the project also included installations at two other Melcom outlets in Tema (187 kWp) and Madina (162 kWp).
The system is designed to cover the shops’ energy requirements entirely and connects to the national grid, allowing surplus power to be transferred to bolster its capacity.
According to BusinessGhana, Melcom Group secured a GH¢13 million loan for the project through Societe General Ghana’s (SG Ghana) green financing division. The installation can power approximately 2,600 households that consume an average of 600 kilowatt-hours per month.
During the launch event in Accra on Saturday, Rupesh Singh, Group Project Manager at Melcom, said the company intends to extend the system to its other regional branches. He highlighted the goal of reducing reliance on the Electricity Company of Ghana (ECG) by generating their own power in the coming years.
Also present at the launch from Melcom Group were Mahesh Melwani, the Group Joint Managing Director; Manish Malik, the Group Chief Financial Officer; Sonya Sadhwani, the Group Executive Director; Francis Sam, the General Manager; and Godwin Avenorgbo, the Group Director of Communications.
Mitigating the Environmental Impacts Of Solar Power
Hakim Ouzanni, Managing Director of SG Ghana, said the initiative would reduce the Melcom Spintex branch’s electricity expenses by up to 35 percent and represents a significant investment in renewable energy.
He added that the project demonstrates a commitment to combating climate change and showcases solar energy’s potential to mitigate the environmental impact of traditional power sources. According to Ouzanni, harnessing solar power can reduce carbon emissions while establishing a more sustainable and resilient energy infrastructure.
Ouzanni stated, “At SG Ghana, we acknowledge the urgent need to transition to a low-carbon economy. Thus, we are proud to support initiatives like Melcom’s solar project, which align seamlessly with our values of environmental stewardship and responsible investment.”
He added, “This financing arrangement reflects our firm belief in the viability and promise of renewable energy ventures. Our goal is to accelerate the adoption of clean energy technologies and drive positive changes within our energy landscape through innovative financing and strategic partnerships.”
Hala Jurf, SG Ghana’s Business Development Manager who oversaw the project, noted it was the result of months of meticulous planning, design, and hard work from her team. She stressed that the project represents more than just the installation of solar panels and cables; it symbolizes a collective dedication to sustainable energy solutions.
Ghana: A Fertile Land for Solar Investment
Ghana is increasingly attractive to foreign investment in solar energy due to its abundant solar potential and favorable business environment.
The government’s ambitious target of generating 5% of its electricity from solar sources by 2030 has spurred interest in utility-scale solar projects. Tenders for such projects offer promising opportunities for companies, signaling Ghana’s commitment to sustainable energy solutions.
Off-grid solar projects present another area ripe for investment, addressing the electricity needs of rural communities lacking access to traditional power grids. With the government launching tenders for off-grid projects, investors see potential in bridging the energy gap and fostering inclusivity.
The burgeoning solar sector is also fueling demand for equipment manufacturing, presenting an opportunity for companies to establish local operations and meet the rising demand for solar technologies.
Ghana’s proactive measures, including net metering regulations, tax incentives, and a feed-in-tariff program, are aimed at creating a favorable investment climate.
Initiatives like the renewable energy fund further underscore this commitment, highlighting Ghana’s determination to embrace a sustainable energy future.
