- AFDB approves a $27.39 million grant for Ghana’s RE development
- The Ghana Mini-Grid and Solar Photovoltaic Net Metering produce 111,361MWh of renewable energy
- Ghana has one of the highest electrification rates in Africa.
The African Development Fund’s Board of Directors has approved a $27.39 million grant to Ghana to develop renewable energy investments in the mini-grid and net metering space. The Volta Lake region will benefit from developing 35 mini-grids, standalone solar photovoltaic systems in 400 schools, 200 units in healthcare centres, and 100 units for community energy services centres. It will also install up to 12,000 net-metered rooftop solar photovoltaic systems for public institutions, small and medium-sized businesses, and select households.
The Ghana Mini-Grid and Solar Photovoltaic Net Metering produce 111,361MWh of renewable energy per year, corresponding to an installed capacity of 67.5MW. In addition, the project will reduce greenhouse gas emissions by 0.7795 million tons of CO2 equivalent per year and create up to 2,865 construction jobs, 30 per cent of which will go to women and youth.
The African Development Bank Group’s Director-General for West Africa, Marie-Laure Akin-Olugbade, stated: “The Bank Group’s assistance is in line with Ghana’s development priorities, which include promoting and developing the country’s abundant renewable energy resources for long-term economic growth, improved social life, and reduced adverse climate change effects. Furthermore, the post-Covid-19 era has highlighted the significance of dependable energy services.”
The African Development Bank’s Country Manager for Ghana, Eyerusalem Fasika, stated: “The project will help Ghana’s Covid-19 Alleviation and Revitalization of Enterprises Support (Ghana CARES) program, which recognizes the energy sector as a driver of economic transformation. It has the potential to create jobs, fundamentally expand business access, and bring Ghanaians prosperity.”