- The Board of Directors of the African Development Bank (AfDB) Group has approved $28.49 million in financing for Ghana.
- The funding is intended to support electrification via off-grid solar systems.
Ghana’s electrification would be supported by $28.49 million in funding, according to the African Development Bank (AfDB). This money comes from the Scaling Up Renewable Energy in Low Income Countries (SREP) program of the Climate Investment Funds (CIF).
Several sub-Saharan African nations, such as Madagascar, Kenya, Tanzania, and Niger, are implementing the CIF program. The CIF award is helping a project in Ghana that uses off-grid solar systems to speed up electrification. In addition to constructing stand-alone solar systems in 400 schools, 200 health facilities, and 100 community energy service systems in the Lake Volta and Northern areas, the Ghanaian government intends to deploy 35 solar photovoltaic mini grids.
Moreover, 12,000 rooftop solar photovoltaic systems will be installed as part of the initiative in small and medium-sized businesses (SMEs). There will be battery storage systems in every decentralized solar system. The design, engineering, procurement, building, installation, testing, and commissioning of these systems in island settlements around Lake Volta are all part of the project, according to the AfDB.
According to the Abidjan, Ivory Coast financial organisation, the project would “narrow the gender gap in results by establishing 2,865 equitable jobs and livelihoods, 30% of which will be for women and youth.” The Ghanaian government has raised over $85 million for the project’s implementation.
The $16 million contribution comes from the government of Ghana. The African Development Fund, the AfDB Group’s concessional lending window, and the Swiss State Secretariat for Economic Affairs ($13.30 million and $27.39 million, respectively) are responsible for the remaining finance.