Anthony Opoku, CEO of TC's Energy, says the country has been looking for alternative methods of producing energy as their current energy crisis and borrowing from other countries is not sustainable.
“We realised that each time we have a problem we have to, for instance, go to Nigeria to ask for oil and gas to be able to fuel our thermal and hydro plants,” said Opoku to CNBC Africa.
“We decided to come up with an alternative method of producing wave energy which will use our own natural resources because we have a very good wave height climate that we could use to harness the generation of electricity here for Ghana,” added Opoku.
The project is being funded by Swedish banks and Ghana expects the first batch of investments to come in the next two months. The country has also bought machinery which will arrive by the end of the year.
“By December, all the equipment will arrive from Sweden and then we will start the installation. By the end of January we would have finished the installation and we will have our first commissioning of half a megawatt to be produced.”
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Opoku says by the end of next years they should have installed 14 MW and in six years the 1000 MWs should be completed.