LMI Holdings Secures $21M for Solar Expansion

Key Figures & Findings:
LMI Holdings, a leading Ghanaian conglomerate, has partnered with the International Finance Corporation (IFC) to build a 150MW solar photovoltaic (PV) power plant to supply businesses in Ghana’s Tema and Dawa industrial zones. The $100 million project, part of LMI’s Solar for Industries (SFI) initiative, is backed by an initial investment of $21 million from IFC. The first 100MW phase is expected to be completed by October 2026, with an additional 50MW by June 2027. CEO Kojo Botsio Aduhene highlighted that this is the beginning of LMI’s ambitious goal to develop 1,000MW of solar capacity by 2032.

Statistics & Insights:
The project will provide reliable, low-cost clean energy to over 100 businesses in key industries, reducing Ghana’s carbon emissions by 120,000 metric tons annually. It aligns with Ghana’s Renewable Energy Master Plan, which targets a 10% renewable energy share.

Future Implications:
Ghana’s industrial zones could become models for sustainable power by 2027, reducing reliance on traditional energy sources and attracting further investments in renewable energy infrastructure.

Source: IFC