The Board of Directors of the African Development Fund, the concessional financing window of the Bank Group, has reportedly approved a US$ 27.39M grant for the development of Ghana’s mini-grid and solar photovoltaic net metering project.
The scope of the project includes 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 also includes the deployment of 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$ 28.49M and US$ 13.30M, respectively.
Expectations for Ghana mini-grid and solar photovoltaic net metering project
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.
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According to Eyerusalem Fasika, the African Development Bank’s Country Manager for Ghana said the project will support Ghana’s COVID-19 Alleviation and Revitalization of Enterprises Support (Ghana CARES) program, which identifies the energy sector as an enabler of economic transformation.
“The Ghana mini-grid and solar photovoltaic net metering project has the potential to create jobs, fundamentally expand access to businesses and bring prosperity to Ghanaians,” said Mr. Fasika.
