Empower New Energy is proud to announce the signing of a significant investment agreement to implement a cutting-edge renewable energy solution for the NARUBIZ – Natural Rubber Processing Factory, located in Dompim No. 1, Western Region. This project features a 1.055 MWp Solar Photovoltaic (PV) system and a 4 MWh Battery Energy Storage System (BESS), all aimed at addressing the factory’s pressing energy needs and enhancing its operational sustainability. RIEPCO Solar of Ghana along with their international partner Radiance Power Systems is responsible for developing, engineering, construction and maintenance of the project.
The award-winning NARUBIZ – Natural Rubber Processing Factory, inaugurated by Ghana’s President Akufo-Addo in 2021, is a key player in the natural rubber sector, which is critical to Ghana’s economy. The factory has faced high energy costs and unreliable power supply, which has historically hampered its productivity and competitiveness. With 90% of its 85-member workforce sourced from the local community and over 1700 registered rubber out-growers supplying raw material to the factory, Narubiz plays a crucial role in promoting economic development and providing employment opportunities in the region.
Recognizing the vital importance of a stable energy supply, this strategic investment from Empower New Energy is poised to transform Narubiz’spower infrastructure. The integration of renewable solar energy and storage will significantly reduce the factory’s dependence on diesel generators—an expensive and unsustainable power source. The investment will furthermore replace more than 600 tons of CO2 per year, and about 10 000 tons over the project’s lifetime.
Managing Director of Narubiz, Emmanuel Owusu stated; “This solar and battery plant financed by Empower New Energy will enable Narubiz to overcome the short-term challenges of costly and erratic power, positioning the factory for long-term success in both domestic and international markets.” He also used this opportunity to thank GCB for their financial support with the construction of the factory and also extended his gratitude to their guarantors, GIRSAL.
H.E Ingrid Mollestad stated, “Norway, through the Norwegian Investment Fund for developing countries (Norfund), is proud to support renewable energy initiatives in Ghana. The solarization of the Narubiz Rubber Factory represents our commitment to fostering sustainable development and enhancing economic resilience in this vibrant community. This partnership not only addresses energy challenges but also strengthens our collaboration in promoting green technologies for a better future.
“We are excited to partner with Narubiz in their journey toward becoming a leader in sustainable rubber production,” said Terje Osmundsen of Empower New Energy. “Our investment showcases how innovative solar solutions can empower local economies, creating a sustainable future for the natural rubber sector in Ghana.”
NARUBIZ LTD was financed by
GCB PLC and the loan guaranteed
NARUBIZ LTD – NATURAL
RUBBER PROCESSING FACTORY.
Present at the signing: Ambassador Ingrid Mollestad, Terje Osmundsen – Empower New Energy, Emmanuel Akwasi Owusu – MD, NARUBIZ, James Owusu Korangteng – Operations Director, NARUBIZ, Kweku Kum, Finance Director – NARUBIZ, Chairman Charles Tetteh Darko – RIEPCO Solar, Justice Otoo, COO – RIEPCO Solar, Sohrab Kakalia – CEO, RIEPCO Solar / RADIANCE Power Systems, Kwasi Duah – GIRSAL CEO, Sammy Yeboah – GIRSAL CEO – Technical, Sam Aidoo – GCB PLC, Eric Owusu Nkansah – GCB PLC, Henry Frimpong Boateng – GCB PLC, NORFUND representative in Ghana – Lois Boye, Vilde Nakkim – Second Secretary, Political Affairs.
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