Ghana Signs Grant Agreement With African Development Fund, Government of Switzerland, to Support Development of Mini-Grids and Solar PV Net Metering & More News Here

The authorities of Ghana has signed a grant settlement with the African Development Fund, and a financing settlement with the federal government of Switzerland, for the Ghana Mini Grid and Solar Photovoltaic Net Metering venture. The venture will profit colleges, well being centres and communities throughout the nation.

The agreements, for the event of 35 mini-grids and stand-alone photo voltaic PV programs, had been signed on Wednesday 25 May at a brief ceremony held on the sidelines of the African Development Bank Group’s 2022 Annual Meetings. They had been signed by Ghanaian Finance Minister Ken Ofori-Atta, chairman of the board of governors of the African Development Bank Group, Ambassador Dominique Paravicini, the African Development Bank Group’s governor for Switzerland and Dr. Akinwumi A. Adesina, president of the African Development Bank.

The put up Covid-19 period has highlighted the significance of dependable vitality providers. The venture will help Ghana’s Covid-19 Alleviation and Revitalization of Enterprises Support (Ghana CARES) program, which identifies the vitality sector as an enabler of financial transformation.

Minister Ofori-Atta stated the settlement demonstrated his authorities’s dedication to improve the financial and social viability of low carbon investments and attaining vitality effectivity. Ghana’s electrical energy entry charge is presently at 87.13% the minister revealed. The final mile was usually the costliest and troublesome, he famous.

Today’s occasion not solely marks the primary stage however marks an vital milestone for offering local weather acutely aware growth throughout the nation,” Ofori-Atta said. “It is really vital and vital for us as we transfer towards internet zero.”

Ambassador Paravicini stated: “We are pleased to have reached another milestone in our cooperation with this wonderful country. We hope that, together, this project will bring sustainable and affordable electricity to over 6,000 small and medium-sized enterprises and almost 5,000 households, besides 1,100 public buildings.”

Dr. Adesina stated: “The Bank supports Ghana’s efforts in building resilience to the socio-economic impacts of the COVID-19 pandemic by providing electricity to health care centers, schools and island communities, currently without access to electricity services, thus enabling refrigeration of vaccines and testing facilities in these communities “.

The authorities of Switzerland financing will particularly help the dimensions up of the present Ghana internet metering program and deploy up to 12,000 models of roof-mounted net-metered photo voltaic PV programs for Small and medium sized Enterprises (SMEs) and households. Solar cells, additionally known as photovoltaic (PV) cells, convert daylight instantly into electrical energy.

The programs will energy 750 small medium-sized enterprises, 400 colleges, 200 well being facilities and the vitality service programs in 100 communities within the Volta Lake area and Northern area of Ghana. The Ghana Mini Grid and Solar Photovoltaic Net Metering venture is predicted to have an annual electrical energy output of renewable vitality estimated at 111,361MWh, corresponding to an put in capability of 67.5MW. The venture will mitigate greenhouse emissions of 0.7795 million tons of CO2 equal per yr and create up to 2,865 jobs throughout building, of which 30% will goal ladies and youth

The general venture value is estimated at $85.88 million comprising the mini grid part – $40.29million, and a $44.89 million internet metering part. It might be financed by means of $27.39 million from the African Development Fund; Ghana authorities counterpart funding of $16million; and $14 million from the Swiss authorities. In addition, the African Development Bank Group as an implementing entity of the Climate Investment Funds, leveraged concessional financing of $28.49 million.

The African Development Bank Group’s annual conferences are going down in Accra, Ghana, below the theme: Achieving Climate Resilience and a Just Energy Transition for Africa.

Contact:

Amba Mpoke-Bigg, Communication and External Relations Department, African Development Bank, electronic mail: [email protected]

Technical contact: Antony Karembu, Principal Renewable Energy Specialist, Renewable Energy Division, African Development Bank, electronic mail: [email protected]

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