Ghana’s feed in tariff had previously been set at approximately $0.137/kWh, however the country’s new government, appointed in December 2016, recently stated that new PPAs can be signed with a maximum FIT rate of $0.10/kWh.
Project developer PSECC has formed a special purpose vehicle for the project; Simbrofo Light Ghana Ltd, and was granted a provisional license for the 20 MW solar farm in December 2016, with a further two 20 MW projects planned for the same location. Financing for the projects has been obtained via the European Central Bank.
“The lower FIT payment meant I had to look for the best possible technology choice for solar panels,” says Alan Brewer, CEO at PSECC. “That’s when I contacted Natcore, because the increase in power using their technology meant that the revenues could be increased by 10% or more, and the project could once again be financially viable.”
PSECC and Natcore are now considering a licensing agreement, where PSECC would gain exclusive access to the U.S. company’s technology within Ghana. “We estimate that the fee for a license agreement of this size will be about $2.5 million,” states Natcore president and CEO Chuck Provini. “Although we haven’t finalized negotiations, we’re able to make a projection based on savings anticipated using our technology.”
In July, the two companies also signed a memorandum of understanding, whereby PSECC would work with Natcore on developing solar projects within the U.S. Natcore has been assigned the project under its Best-of Breed program, under which it functions as a consultant on the design and construction of solar farms and other facilities.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.