AN Accra-based private company, Atlas Business and Energy Systems (ABES), through a collaboration with OPAM Solar of Finland, has established a production facility to design, produce and install solar and other renewable energy devices in Ghana.
The project is to create an alternative power supply in the face of frequent power outages and increasing electricity tariffs in the country.
The launch of the facility also saw the opening of the first Green Banking, a loan facility established to support renewable energy financing.
At the launch, the founder of Regent Law, Mr Martin Nwosu, said the country was lucky to have plenty of sunshine for at least 10 hours a day, which would sufficiently be used in the production of efficient alternative energy for individuals and organisations.
He said the idea would help households and companies to have alternative source of energy in times of power outage.
Mr Nwosu said the innovation would not only help in solving the energy problems in the country to some extent but also help in the development of the country.
He said renewable energy could bring about environmental and socio-economic benefits as it generally entailed fewer emissions and made use of local resources.
The General Manager, Banking Operations of Home Finance Company (HFC) Bank, Mr Charles Martinson, said the development of renewable energy sources had been limited globally due to peculiar circumstances related to them such as high initial cost and lack of financing.
He said research had shown that energy projects generally demanded high levels of financing, which small-scale producers in countries like Ghana could rarely handle on their own, adding that it made the problem of financing the main impediments to the development of renewable energy technologies.
He, therefore, called for public-private partnership in the sector.
“Governments must, therefore, discharge their obligations by providing the enabling legal, regulatory and macroeconomic environment to engender growth and development of the renewable energy industry,” he said
Mr Martinson added that banks and other financial institutions also had a role to play by providing credit facilities, managing the portfolio of investments in renewable energy and providing insurance services as well as collaborating with international institutions for the development of renewable energy.
Speaking to the Daily Graphic a researcher from OPAM Finland, Mr Emmanuel Ndzibah said the aim of the initiative was to provide accessible, reliable and affordable energy for all.
He said people should not think about the initial cost but to think about the long term benefits since the facility could last for 25 to 30 years.
The facility is made up of panels, charged controller which regulates the energy received from the sun, an inventor and a battery.
Mr Ndzibah said the facility could serve as a buck-up energy, a stand alone source of energy for people who did not have access to electricity and as a hybrid for companies who would like to connect some of their facilities to the renewable energy.
The Managing Director of ABES, Mr Nathaniel Gyibah said the vision of the company was to be the leading producing company of renewable energy and provide their customers with excellent services for the value of their money.
He said the company also sought to train more people for the industry to help provide some solution sto the current energy problems in the country.
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