Empower New Energy Signs Landmark Contract to Solarize Narubiz Ltd, Natural Rubber Processing Factory
Empower New Energy has announced the signing of a transformative investment agreement to implement an advanced renewable energy solution at the Narubiz Natural Rubber Processing Factory, located in Dompim No. 1, Western Region of Ghana.
The project will feature a 1.055 MWp Solar Photovoltaic (PV) system and a 4 MWh Battery Energy Storage System (BESS), aimed at addressing the factory’s energy challenges and improving operational sustainability.
The development, engineering, construction, and maintenance of the project will be carried out by RIEPCO Solar of Ghana in partnership with Radiance Power Systems, an international partner.
The Narubiz Natural Rubber Processing Factory, which was inaugurated by President Akufo-Addo in 2021, plays a pivotal role in Ghana’s economy.
The factory is a major player in the natural rubber sector, which is essential for the country’s economic growth. Despite its success, Narubiz has struggled with high energy costs and an unreliable power supply, which have hindered productivity and competitiveness.
With 90% of its 85-member workforce sourced from the local community and over 1,700 registered rubber out-growers providing raw materials, Narubiz is a significant employer in the region, promoting economic development and creating job opportunities.
The solar energy and battery storage system will reduce Narubiz’s dependence on costly and environmentally harmful diesel generators, which have been the factory’s primary power source. By transitioning to clean energy, the factory expects to reduce its carbon emissions by over 600 tons annually—amounting to more than 10,000 tons over the lifetime of the project.
Emmanuel Owusu, Managing Director of Narubiz, expressed his optimism about the project, saying, “This solar and battery installation, financed by Empower New Energy, will enable Narubiz to overcome the challenges of erratic and expensive power. It will position the factory for long-term success in both domestic and international markets.”
Owusu also expressed gratitude to the Ghana Commercial Bank (GCB) for their financial support in the factory’s construction and to their guarantors, GIRSAL, for their continued backing.
Ingrid Mollestad, Norwegian Ambassador to Ghana, highlighted the role of Norway’s Investment Fund for Developing Countries (Norfund) in supporting the renewable energy project. “Norway is proud to support sustainable energy solutions in Ghana.
The solarization of the Narubiz factory underscores our commitment to promoting green technologies and supporting economic resilience in local communities,” she said.
Terje Osmundsen, of Empower New Energy, shared his enthusiasm about the partnership: “We are excited to collaborate with Narubiz on their journey toward becoming a leader in sustainable rubber production. This investment is a testament to the power of innovative solar solutions to empower local economies and create a sustainable future for Ghana’s natural rubber sector.”
The signing ceremony was attended by key stakeholders, including Ambassador Ingrid Mollestad, Terje Osmundsen of Empower New Energy, Emmanuel Akwasi Owusu (MD of Narubiz), James Owusu Korangteng (Operations Director, Narubiz), Kweku Kum (Finance Director, Narubiz), Chairman Charles Tetteh Darko and Justice Otoo of RIEPCO Solar, Sohrab Kakalia (CEO, RIEPCO Solar / Radiance Power Systems), Kwasi Duah (CEO, GIRSAL), Sammy Yeboah (Technical Director, GIRSAL), Sam Aidoo (GCB PLC), Eric Owusu Nkansah (GCB PLC), Henry Frimpong Boateng (GCB PLC), as well as representatives from Norfund, including Lois Boye and Vilde Nakkim.
This groundbreaking initiative marks a significant milestone in advancing renewable energy in Ghana, supporting both environmental sustainability and economic growth.
Source: Felix Nyaaba//expressnewsghana.com
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