Wednesday
February 2
2022

African Development Fund Approves $27.39 Million Grant to Develop Renewable Energy Investments in Ghana

The Board of Directors of the African Development Fund has approved a $27.39 million 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 centers and 100 units for community energy services centers 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 Program, a funding window of the Climate Investment Funds, and the Swiss State Secretariat for Economic Affairs, amounting to $28.49 million and $13.30 million, respectively.

Photo courtesy of andreas160578.

Source: Devdiscource (link opens in a new window)

Categories
Energy, Environment
Tags
climate change, environment, gran, impact investing, minigrids, Off Grid Energy, renewable energy, SMEs, solar