Ghana inks funding to roll out 67.5 MW of mini-grids, net-metered solar

Image by: jola miziniak.

June 10 (Renewables Now) - The government of Ghana has signed funding agreements to support the installation of some 67.5 MW of mini-grids and net-metered solar PV systems for businesses and communities across the country, the African Development Bank (AfDB) announced today.

The Ghanaian government signed a grant agreement for USD 27.39 million (EUR 26m) with the African Development Fund, which is administered by the AfDB, and a financing agreement with the Swiss government covering USD 14 million. Ghana will contribute USD 16 million, while the AfDB will leverage concessional financing of USD 28.49 million, the multilateral development bank said.

The overall cost of the Ghana Mini Grid and Solar Photovoltaic Net Metering project is estimated at USD 85.88 million, a sum that includes both the mini-grid and the net metering component.

Funding will support the development of 35 mini-grids and stand-alone solar PV systems. The Swiss government’s financing will specifically target the scale up of Ghana’s existing net metering programme and help install up to 12,000 units of roof-mounted net-metered solar PV systems for small and medium enterprises (SMEs) and households, the AfDB said.

The entities expect the initiative to power 750 SMEs, 400 schools, 200 health centres and the energy service systems in 100 communities in the Volta Lake region and Northern region of Ghana.

(USD 1.0 = EUR 0.949)

Join Renewables Now's free daily newsletter now!

More stories to explore
Share this story
Tags
 
About the author

Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription
\