📋 Tender Overview
Project Number: 49124
Company Name: Solar For Industries LTD
Date ESRS Disclosed: Nov 22, 2023 Country: Ghana
Region: Central Africa, Liberia, Nigeria, and Sierra Leone
Environmental Category: B
Status: Pending Approval
Sector: Solar - Renewable Energy Generation
Industry: Infrastructure
Department: Regional Industry - MAS Africa
Project Description
The proposed investment is an IFC US$100m loan package (up to US $30 million A Loan, up to US $40 million mobilized in B/Parallel loans, and an additional up to US $30 million subordinated loan from the IDA Private Sector Window Blended Finance Facility) to Solar for Industries Limited (SFI), a newly formed subsidiary of LMI Holdings Ltd (LMI or the Group), to support the Group’s plan to develop and operate solar photovoltaic (PV) power for industrial parks in Tema (Meridian Industrial Park) and Dawa Industrial Parks in Ghana (the Project ).
The solar farm will consist of a 150 MWp solar Photovoltaic (PV) power plant, with ground-mounted solar panels, fitted on single-axis trackers, at the 2,000 acre Dawa industrial park. The project will be executed over a period of 3-5 years in three phases. The engineering, procurement, and construction (EPC) Contractor (or the ‘contractor’) is yet to be appointed. Enclave Power Company Ltd (EPCL), also a wholly owned subsidiary of LMI, will offtake the produced power within the estate and distribute to tenants within the industrial parks, and power transmission from Dawa to Tema will be done through the existing Gridco grid lines (the state-owned grid) also used by other operators. No Associated Facilities (Afs) have been identified under the Project.
The project is expected to cost US$140 million, comprising of (i) up to US$30 million “A” loan; (ii) up to US$40 million in “B”/“Parallel” loans; (iii) up to US$30 million IDA PSW loan and (iv) US$40.0 million funded by equity. The project is expected to be supported by the IDA PSW as described in the Blended Finance Section
Financing Sources:
2) World Bank (WB)
1818 H Street, NW Washington,
DC 20433 USA
Tel : (202) 473-1000
https://www.worldbank.org/
