2019-09-24 10:05:38

Yellow Gold Company LTD investment in a solar farm

We start the next stage of the project - construction of power plants in Ghana and Namibia. Acquisition of energy will be based on what is most in these areas, it is free and fully environmentally friendly - on the energy provided by the sun. On the energy which thanks to photovoltaic panels We can pass on to the local society. Constant access to electricity will solve the still existing problem of the local population related to its notorious lack and increase the energy capabilities of Namibia and Ghana. On the solar market, however, more and more often is heard about the development of large photovoltaic projects that base the business model on long-term energy sales contracts. The Yellow Gold Company believes in the development of this branch of business, the project is also created with the intention of making our mines independent of external electricity supplies, continuous deficiencies negatively affect their operation, restricting the possibility of development.

The first solar farm with a 25MW installation will be located on 80 hectares located about 50 km north-east of Kumasi, between Kwadaso and Nsuta. The local operator TTE Energy Ghana Ltd. will be responsible for the guarantee of electricity collection, and the estimated duration of the project will take 2 years.

In Namibia, the project will take the form of direct assistance to households through investments in micro-installations. The grant for this purpose will be financed by the Government of Namibia. The project will also take 2 years, and during its first phase 1000-1200 installations in nearby houses will be established. The project's operator will be RedMan, while local installers will be responsible for the installation.

According to the Ministry of Finance and Economy, problems in electricity affected 90 percent of small and medium-sized enterprises in Ghana in 2007. The country is also struggling with unequal access to electricity. According to the US Agency for International Development, only 72 percent of Ghanaians have access to electricity, taking into account the entire country and about 50% on a rural scale (data for 2017). The multi-decade cooperation of Yellow Gold Company Ltd with the Ghanaian community obliges us to improve this situation. We want our solar farms to shine electricity in every Ghanaian and Nabibian house. Soon we will present further information along with detailed contracts.