Investment companies are continuing to investigate opportunities in emerging markets, one of which is Ghana, which is being studied by a Korean company with a view to investing in the company’s solar market. The Ghana Energy Commission and Halla Energy and Environment, a Kyonggi-do, South Korea-based EPC company, have been in discussions to establish a framework under which the latter could invest in the development of 300MW of solar energy in the country.
Halla’s COO, Byung Nam Kim, told a press meeting following the discussion that it is seeking the backing of the Korean Government for the investment, the amount of which was not disclosed. The Korean company intends to return to Ghana upon invitation by the Ghanaian Government to conduct a six-month feasibility study prior to setting out on the investment road.
Ghana is said to have stabilized its economy of late, and its position and abundance of natural resources make it ideal for developments such as large-scale solar deployment.
Mr. Kim seemed keen to stress the validity of the investment investigation, stating that Halla Energy and Environment has been a reputable company in the energy and environment industries for the past 30 years.
Cadbury recently invested around US$780,000 in the installation of solar modules and lanterns in the country.
Further information on the proposed investment plans are available on the Ghanaian Government’s website.