AfDB Approves $27.39 Million For Solar In Ghana

African Development Bank To Fund Ghana’s Mini Grid & Solar PV Net Metering Plans

AfDB Approves $27.39 Million For Solar In Ghana

A country with one of the highest electrification rates in Africa, Ghana sees reliable energy services as a key element in the post pandemic era. To help support the development of small scale solar, AfDB has approved a grant of $27.39 million for the country. (Illustrative Photo: Photo Credit: Dewald Kirsten/Shutterstock.com)

  • Ghana has secured international financial support for its mini grids and solar PV net metering program
  • AfDB has approved a grant of $27.39 million to support renewable energy growth in the country
  • Ghana will be able to sport 67.5 MW new renewable energy capacity and encourage solar PV adoption by schools, healthcare center and community energy service centers, among others

The African Development Bank (AfDB) will support the development of 67.5 MW of new renewable energy capacity in Ghana, to be installed through mini grids and solar PV net metering, with a grant of $27.39 million.

This capacity is expected to generate 111,361 MWh of clean energy annually and create up to 2,865 jobs during construction which will including 30% women and young people, the bank stated.

With the help of this grant, Ghana will be able to develop 35 mini grids, support 400 schools to deploy standalone solar PV systems, 200 units in healthcare centers and 100 units in community energy services centers in the Volta Lake region. Additionally, up to 12,000 units of rooftop mounted net-metered solar PV systems will be deployed for public institutions, small and medium-sized enterprises and selected households.

According to the bank, the project has leveraged co- financing from the Scaling Up Renewable Energy Program and the Swiss State Secretariat for Economic Affairs.

AfDB says energy sector is a major pillar of economic transformation for Ghana’s Covid-19 Alleviation and Revitalization of Enterprises Support (Ghana CARES) program, which the mini grid and solar PV net metering project will support. While Ghana has one of the highest electrification rates in Africa, post COVID-19 era has highlighted the importance of reliable energy services, it added.

“It has the potential to create jobs, fundamentally expand access to businesses and bring prosperity to Ghanaians,” said AfDB’s Country Manager for Ghana, Eyerusalem Fasika.

Ghana aims to have 10% of its total electricity mix in 2020 to account for renewable energy and achieve universal access to electricity.

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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