ARCCU Credit Union goes green


…as it inaugurates solar power plant

The ARCCU Co-operative Credit Union Limited (ARCCU) has inaugurated a solar power plant to minimize energy consumption and reduce the cost of electricity.

EWIA ‘solar investments for Africa’ has awarded ARCCU with Solar Installation Certificate of Completion. And per the certification, EWIA will monitor and maintain the plant according to the contract period.

Speaking at a brief ceremony at ARCCU House in Takoradi, Mr. Emmanuel Prah, General Manager of ARCCU Co-operative Credit Union Limited explained that ‘during the load shedding exercise on electricity few years ago, we learnt some lessons as we relied on generator and thereafter, our generator got spoilt and so, we were thinking that should there be another load shedding where are we going to stand’.

According to him, solar is generally cheaper than conventional power and the down side is that it requires a huge investment upfront and so, that is when EWIA came in to finance it for ARCCU.

“We are paying over a long period and eventually take ownership of it. The advantage is that it gives us regular and reliable power and that we are now virtually insulated from the price of electricity. Price increase is likely to come up anytime and when it happens, we will be reaping the benefit” Mr. Prah added.

“So, we are using green, green energy to help save the planet. We want to tell everyone that ARCCU is a green friendly organization and the first Credit Union to do this in the country”, he said.

Mr. Ralph Schneider, Co-Founder, Chief Investment Officer of EWIA Green Investments explained that the company’s job, is to replace diesel generators by renewable energy and to reduce energy cost and carbon dioxide output.

“EWIA is a Munich Based Investment Company with subsidiaries in Accra and offer full package in pre-financing of the system among others” he said.

He mentioned that as part of the company’s operation on the solar installation for ARCCU, there will be monitoring and maintaince for the contract period of 10 years.

He encouraged individuals and organizations to go green by saving the environment as well as patronizing their services.

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