Ghana gets ADF US$27.39million grant to support development of mini-grid and solar PV net metering

1
The project has leveraged co-financing from the Scaling Up Renewable Energy Programme - a funding window of the Climate Investment Funds and the Swiss State Secretariat for Economic Affairs, amounting to US$28.49million and US$13.30million respectively.

The Board of Directors of the African Development Fund has approved a US$27.39million grant to Ghana for the development of renewable energy investments in the mini-grid and net metering space.

The project involves the development of 35 mini-grids, standalone solar photovoltaic systems in 400 schools, 200 units in healthcare centres and 100 units for community energy services centres in the Volta Lake region. It will also deploy up to 12,000 units of roof-mounted net-metered solar photovoltaic systems for public institutions, small and medium-sized enterprises and selected households

The project has leveraged co-financing from the Scaling Up Renewable Energy Programme – a funding window of the Climate Investment Funds and the Swiss State Secretariat for Economic Affairs, amounting to US$28.49million and US$13.30million respectively.

The Ghana Mini-Grid and Solar Photovoltaic Net Metering project is expected to have an annual electricity output of renewable energy estimated at 111,361MWh, corresponding to an installed capacity of 67.5MW. The project will mitigate greenhouse emissions of 0.7795 million tonnes of CO2 equivalent per year and create up to 2,865 jobs during construction, of which 30% will target women and youth.

Marie-Laure Akin-Olugbade, the African Development Bank Group’s Director General for West Africa said: “The Bank Group’s support is aligned to Ghana’s development priorities that aim to promote and develop the country’s rich renewable energy resources for sustainable economic growth, improved social life and reduced adverse climate change effects. In addition, the COVID-19 era has highlighted the importance of reliable energy services.”

Eyerusalem Fasika, the African Development Bank’s Country Manager for Ghana said: “The project will support Ghana’s COVID-19 Alleviation and Revitalisation of Enterprises Support (Ghana CARES) programme, which identifies the energy sector as an enabler of economic transformation. It has the potential to create jobs, fundamentally expand access to businesses and bring prosperity to Ghanaians”.

Daniel Schroth, Acting Director of the Renewable Energy and Energy Efficiency Department, noted that the West African nation of Ghana has one of the highest electrification rates in Africa.

“The grant facility’s approval reflects a strong commitment by the African Development Bank to support Ghana’s objective of achieving universal access to electricity and its10% renewable energy target by 2030,” he said. “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 Fund is the Bank Group’s concessional funding arm. The African Development Bank has been an implementing entity of the Climate Investment Funds since 2010.

 

1 COMMENT

  1. If you got scammed by binary options or Crypto currency the only option for you if you really require your money back is a recovery room, I was working hand in hand with Gary Howard ( IQ OPTIONS and Cointeck and everything was running very smoothly until I asked for a withdrawal,,, when I decided to withdraw money from my account Mr. Gary Howard disappeared never to be found again. I was transferred to a Mr. Dave Austin who gave me the run around and sent me ridiculous excuses for not contacting me, I went as far as giving him various times of days to connect with me and he would always reply to me with the same answer that I was NEVER available for his calls and that is real B.S (Lies, Lies, Lies) I was ALWAYS available to receive his calls ,,, the honest truth is that he NEVER called me back. I sent my info to them 3 to 4 times and they would accept my verification until I would ask for my money, every time I asked for my money the system would reject my verifications, I strongly advise anyone who is doing business with Any scam brokers to stop wasting their time and money on them because they will NEVER get their money back. I was after for a long time until i got a wind of them through Alexender Walter who helped me to recover all the money I lost to these two scam brokers you can seek their trusted help , if you’re also having withdrawal problem kindly get in touch with me and I will guide you on how you can also recover all your lost funds feel free to contact me through my email address : [email protected]
    and I will guide you on how you can recover all your lost funds

Leave a Reply