Global wind and solar company Mainstream Renewable Power has signed an agreement with Swiss wind farm developer NEK Umwelttechnik to buy the 225 MW Ayitepa wind farm, in Ghana.
The project, which represents a total investment of $525-million, is expected to reach financial close in 2015 and start generating power early in 2016.
The companies will co-develop the wind farm until financial close.
Mainstream will manage the construction, as well as the operations and maintenance of the wind farm for its life cycle.
The project is currently in the latter stages of development with all major permits secured. Grid and offtake agreements are being finalised.
Once fully operational, the wind farm, which is located about 40 km from Accra, will generate about 10% of Ghana's total electricity generation capacity, which currently stands at 2 000 MW.
“This project will not only contribute to a sustainable, clean and independent production of electricity, but will also be accompanied by a lot of social benefits and improvements for the local population such as labour, better education, water supply and electrification for nearby villages and towns,”commented NEK CEO Dr Christoph Kapp.