|Zoetic CEO Jerome Ringo presents model of hydrokinetic turbine to President Mahama commemorating the agreement.|
Zoetic Global, a US-based project developer, has executed a 20-year power purchase agreement with the Electricity Company of Ghana (ECG) for 100 Megawatts of additive power generation at the nation's Akosombo Dam on Lake Volta.
Ghana President John Dramani Mahama touted the contract signed between Zoetic and ECG while emphasizing his administration's comprehensive approach to energy production and the key role of renewables. "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."
The project will involve an array of modular hydrokinetic turbines to 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 Zoetic project at Akosombo has the potential to be a landmark deployment in the emerging field of hydrokinetics and a significant new entry into a renewable energy sector where solar and wind technologies have dominated the spotlight.
In Ghana, demand for new electricity from households has more than doubled in the past five years, leading to several measures by the Ghanaian government to support additional generation capacity.
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. The manufacturing of the hydrokinetic devices and components is scheduled throughout 2016 via partnerships in Pennsylvania and India, with final assembly taking place in Ghana.
In addition to agreements in Ghana, Zoetic is actively negotiating Power Purchase Agreements in other nations in Sub-Saharan Africa as interest in renewables increases across the region.