The African Development Bank has approved a grant of $28.49 million to Ghana for the construction of renewable energy infrastructure. The funding, which comes from the Climate Investment Funds, will be used to construct mini-grids, standalone solar photovoltaic systems and solar-based battery facilities.
The project consists of the design, engineering, supply, construction, installation, testing and commissioning of renewable energy systems on the island communities in the Volta Lake region.
The project aims to increase Ghana’s renewable energy use by 10% through 2030 and will be carried out on the island communities in the Volta Lake region.
The total cost of the project is $85.18 million, with funding also coming from the African Development Fund, Switzerland’s State Secretariat for Economic Affairs and the Ghanaian government.
The project is expected to create 2,865 jobs and livelihood opportunities, with 30% of those being for women and youth. This initiative aligns with the African Development Bank’s New Deal on Energy for Africa, which aims to reduce greenhouse gas emissions and promote socioeconomic development on the continent.
