09.06.2015 Business & Finance

SADA, Alpha Energy signs MOU

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Accra, June 9, GNA - The Savannah Accelerated Development Authority (SADA) and the Alpha Energy and Electric Incorporated has signed a memorandum of understanding (MOU) for the development of various energy potential in the savannah zone.

The $ 50 million project, which includes the development of solar energy, bio-fuel and hydroelectric dam are expected to be undertaken in different phases.

Mr Kwesi Oppong Fosu, Minister of State in-Charge of Development Authorities who witnessed the signing ceremony said the initiative is to support government efforts to overcome the country's energy challenge.

He said the MOU is the first step to an understanding and relationship, which would enable them to detail out the projects and the commercial relationships that could be undertaken.

Mr Charles Abugre, Chief Executive of SADA recounting the energy potential of the area said the northern savanna ecological zone forms about 54 per cent of the country land mass.

He said the zone has most of the Volta River basin, which include the white and black Volta and are major sources of potential power for small and medium hydroelectric dam.

He said the largest dam that has been constructed in the zone is the Bui dam but there is still more than 500 megawatts potential power that could be generated from the area.

Mr Abugre said the clear active sun ray in the area is also a rich source for the generation of solar energy in the future.

He said the bio-matter as well as waste to energy potential in the fast growing urban centre are all large potential energy systems which could power the industrialisation in the savanna zone.

He said without energy in the zone the country cannot develop the large deposits of iron ore, lime as well as transform the huge agriculture productivity in the area to value addition.

Mr Ike Nwabuonwu, Chairman and Chief Executive Officer of Alpha Energy, Missouri, USA expressed delight at the signing of the MOU and the opportunity to work with SADA.

He said the company intends to apply the best of technologies for the project, adding that the agreement is a sign of better things to come.

Mr Paul Taylor, a Trade Attaché at the US Embassy in Accra said he is delighted to see Alpha Energy partner SADA and looking for innovative ways to help solve the energy crisis in Ghana.

He said the co-operation between Alpha Energy and SADA also demonstrates the growing relationship between Ghana and the United States. GNA

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