AfDB’s African Development Fund to Support Solar Power-Ups in Ghana
Grant of US$27.39 million to fund Ghana Mini-Grid and Solar Photovoltaic Net Metering project.
The African Development Fund will provide US$27.39 million to help Ghana improve green energy availability and access, and to promote decarbonisation. This will be done through the development of 35 mini-grids and solar PV systems in 400 schools, 200 units in healthcare centres and 100 units for community energy services in the Volta region.
12,000 rooftop net-metered solar PV systems for public institutions, small and medium-sized enterprises and households will also benefit from the funding.
The Scaling Up Renewable Energy Program (US$28.49 million) and the Swiss State Secretariat for Economic Affairs (US$13.30 million) will co-finance the project. AfDB has confirmed that the energy sector has been a major contributor to the economic transformation for Ghana’s Covid-19 Alleviation and Revitalization of Enterprises Support (Ghana CARES) program which this solar project will support.
The framework of the partnership of the Africa Adaptation Acceleration Program (AAAP) with the AfDB has allowed for the Global Centre on Adaptation to contribute €250,000 towards strengthening adaptation and resilience measures in the investment.
A total capacity of 67.5 megawatts of renewable electricity will be installed under the Ghana Mini Grid and Solar Photovoltaic Net Metering project. The project will be capable of generating 111,361-megawatt hours (MWh) of capacity per annum, avoiding 0.7795 million tons of greenhouse gas emissions per year and creating about 2,865 jobs.
The Acting Director of AfDB's Renewable Energy and Energy Efficiency Department, Daniel Schroth, said, “The approval of the grant facility reflects a strong commitment of the African Development Bank to support Ghana’s objective to achieve universal access to electricity and its 10% renewable energy target by 2030. This project is a good example of the Bank Group’s ability to leverage financing from climate investment funds and donor partners by supporting electrification of Ghana’s remaining 15% located in the island communities.”
The African Development Bank’s Director-General for West Africa, Marie-Laure Akin-Olugbade, emphasized the bank’s supportive role in promoting and developing Ghana’s rich renewable energy resources to sustain economic growth, improve social life and reduce adverse climate change effects.
Top Photo: Solar Power panels - Stock Image (Umarin Nakamura | Dreamstime)
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