Contract signing ceremony at ECG headquarters. Pic credit: Zoetic
Contract signing ceremony at ECG headquarters. Pic credit: Zoetic Global

This week, US-based project developer, Zoetic Global, signed a 20-year power purchase agreement (PPA) with the Electricity Company of Ghana (ECG) for an additional 100MW of power at the nation’s Akosombo Dam on Lake Volta.

Chairman and CEO of Zoetic Global, Jerome Ringo commented: “We look forward to working closely with ECG and other key parties to provide additional power needed to support Ghana’s growth.

“This project will bring substantial, clean and immediate power on-line without environmental impact or societal disruption.”

Attracting key investors

Zoetic CEO Jerome Ringo presents model of hydrokinetic turbine to President Mahama commemorating the agreement. Pic credit: Zoetic Global
Zoetic CEO Jerome Ringo presents a model of the hydrokinetic turbine to President Mahama commemorating the agreement. Pic credit: Zoetic Global

This development was supported by Ghana’s President, John Dramani Mahama, who stressed government’s commitment to boosting energy production and the key role that renewable energy has in achieving that.

“The Zoetic project is an ideal fit for our sustainable development platform. We welcome new developers bringing practical and impactful solutions like this to our country.”

According to the project developer, the project will include a variety of modular hydrokinetic turbines that will be deployed in the post-dam wash of the Akosombo Dam.

“The In-Stream Auger Turbine (IAT) technology being used is designed for high efficiency power generation from flowing water and will leverage existing infrastructure at the dam site including grid connections, access roads, and on-site maintenance buildings,” the company said in a statement.

Thomas Trimble, a leading partner in the Africa practice of Akin Gump Strauss Hauer & Feld LLP said: “Zoetic offers an alternative solution that will activate more development in the hydro power market.

“Zoetic addresses an untapped market opportunity, which sits between the traditional large-scale hydro dams and small micro hydro projects.”

Zoetic is working with strategic partners including Natural Power Concepts, International Coil Ltd, and JWF Industries on turbine production and preparations for the project implementation.

According to the project developers, the hydrokinetic devices and components will be manufactured throughout 2016 via partnerships in Pennsylvania and India, with final assembly taking place in Ghana.

John Pitre, inventor of the IAT and founder of Natural Power Concepts, says: “The IAT was designed with developing countries in mind. With traditional hydroelectric plants taking several years to complete and requiring extensive site construction with heavy environmental impacts.”

He added: “I believed that an alternative solution was needed that could be lower maintenance and more quickly deployed.”

Increasing demand

In the past five years, Ghanaian household demand for new power has almost doubled, which according to Zoetic has led to several measures by the Ghanaian government to support additional generation capacity.

Robert Dwamena, the managing director of ECG said: “We at ECG view this project as a critical building block for improving the country’s energy outlook in 2016 and beyond.”

 

Home page pic credit: Zoetic Global

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