Ghana Renewable Energy

Ghana seeks to make renewable energy 10% of its energy supply by 2030 and to provide universal access to electricity for its citizens, tackling the remaining 15% of communities that still do not have access. The African Development Bank (AfDB) recently announced two projects to support these objectives. 

On February 1, 2022, African Development Fund, the concessional financing window of the African Development Bank (AfDB) Group, announced a $27.39 million grant to Ghana for the development of renewable energy investments in mini grid and net metering. 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 will also deploy up to 12,000 units of roof-mounted net-metered solar photovoltaic systems for public facilities, SMEs, and private households. 

Further, on February 16, 2022, the African Development Fund approved a $165 million commitment for the Leveraging Energy Access Finance Framework (LEAF) program. LEAF will enable companies in Ghana (as well as Nigeria, Kenya, Tunisia, Ethiopia, and Guinea) to access financing to develop solar home systems, green mini-grids, and solar solutions for commercial and industrial use. LEAF will provide financing, credit enhancement instruments, and technical assistance to potential clients.  

The AfDB’s LEAF commitment is part of a larger $800 million effort that also includes funding from the Green Climate Fund and local investors. By focusing on smaller scale, decentralized renewable energy solutions, LEAF seeks to help develop renewable energy sources in rural and other communities that are overlooked by larger energy projects. 

To find out more about how to access these emerging commercial opportunities in Ghana, contact PaaEkow Quansah at Commercial Service Accra at: PaaEkow.Quansah@trade.gov or+233(0)30-274-1329. The U.S. Commercial Service also has a Commercial Liaison Office to the African Development Bank in Abidjan, Côte d’Ivoire. For more information on working with the African Development Bank contact Ashley Ndir at Ashley.Ndir@trade.gov; Telephone: + 225 05 54 001 241.