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Ghana signs grant agreement with African Development Fund, government of Switzerland, to support development of mini-grids and solar PV net metering

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  The government of Ghana has signed a grant agreement with the African Development Fund and a financing agreement with the government of Switzerland for the Ghana Mini Grid and Solar PV Net Metering project The project will benefit schools health centers and communities throughout the country The agreements for the development of 35 mini grids and stand alone solar PV systems were signed on Wednesday May 25 in a short ceremony held on the sidelines of the 2022 Annual Meetings of the African Development Bank Group They were signed by the Minister of Finance of Ghana Ken Ofori Atta Chairman of the Board of Governors of the African Development Bank Group Ambassador Dominique Paravicini Governor of the African Development Bank Group for Switzerland and Dr Akinwumi A Adesina President of the African Development Bank Group Bank The post Covid 19 era has highlighted the importance of reliable energy services The project will support the Ghana Covid 19 Business Relief and Revitalization Support Ghana CARES program which identifies the energy sector as an enabler of economic transformation Minister Ofori Atta said the agreement demonstrates his government s commitment to improving the economic and social viability of low carbon investments and achieving energy efficiency Ghana s electricity access rate is currently 87 13 the minister revealed The last mile is often the most expensive and difficult he noted Today s event not only marks the first stage but marks an important milestone in providing climate conscious development across the country said Ofori Atta It is truly important and meaningful to us as we move towards net zero Ambassador Paravicini said We are pleased to have reached another milestone in our cooperation with this wonderful country Together we hope that this project will bring sustainable and affordable electricity to more than 6 000 small and medium sized businesses and nearly 5 000 homes as well as 1 100 public buildings Dr Adesina said The Bank supports Ghana s efforts to build resilience to the socio economic impacts of the COVID 19 pandemic by providing electricity to health care facilities schools and island communities which are currently without electricity access to electricity services which allows for vaccine refrigeration and testing facilities in these communities The funding from the Government of Switzerland will specifically support the expansion of Ghana s existing net metering program and will deploy up to 12 000 units of roof mounted net metering solar photovoltaic systems for small and medium sized enterprises SMEs and households Solar cells also called photovoltaic PV cells convert sunlight directly into electricity The systems will power 750 small and medium sized businesses 400 schools 200 health centers and the energy service systems in 100 communities in the Lake Volta Region and the Northern Region of Ghana The Ghana Mini Grid and Solar PV Net Metering project is expected to have an estimated annual renewable energy electricity production of 111 361MWh corresponding to an installed capacity of 67 5MW The project will mitigate greenhouse gas emissions of 0 7795 million tons of CO2 equivalent per year and create up to 2 865 jobs during construction of which 30 will go to women and youth The total cost of the project is estimated at 85 88 million which includes the mini grid component 40 29 million and a net metering component of 44 89 million It will be financed with 27 39 million from the African Development Fund Government of Ghana counterpart financing of 16 million and 14 million from the Swiss government In addition the African Development Bank Group as executing entity of the Climate Investment Funds leveraged concessional financing of 28 49 million The annual meetings of the African Development Bank Group are taking place in Accra Ghana under the theme Achieving Climate Resilience and a Just Energy Transition for Africa
Ghana signs grant agreement with African Development Fund, government of Switzerland, to support development of mini-grids and solar PV net metering

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African Development Fund

The government of Ghana has signed a grant agreement with the African Development Fund, and a financing agreement with the government of Switzerland, for the Ghana Mini Grid and Solar PV Net Metering project. The project will benefit schools, health centers and communities throughout the country.

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nigerian news up date

Annual Meetings of the African Development Bank Group

The agreements, for the development of 35 mini-grids and stand-alone solar PV systems, were signed on Wednesday, May 25, in a short ceremony held on the sidelines of the 2022 Annual Meetings of the African Development Bank Group. They were signed by the Minister of Finance of Ghana, Ken Ofori-Atta, Chairman of the Board of Governors of the African Development Bank Group, Ambassador Dominique Paravicini, Governor of the African Development Bank Group for Switzerland, and Dr. Akinwumi A Adesina, President of the African Development Bank Group. Bank.

Ghana Covid-19 Business Relief and Revitalization Support

The post-Covid-19 era has highlighted the importance of reliable energy services. The project will support the Ghana Covid-19 Business Relief and Revitalization Support (Ghana CARES) program, which identifies the energy sector as an enabler of economic transformation.

Minister Ofori-Atta

Minister Ofori-Atta said the agreement demonstrates his government’s commitment to improving the economic and social viability of low-carbon investments and achieving energy efficiency. Ghana’s electricity access rate is currently 87.13%, the minister revealed. The last mile is often the most expensive and difficult, he noted.

Today’s event not only marks the first stage, but marks an important milestone in providing climate-conscious development across the country,” said Ofori-Atta. “It is truly important and meaningful to us as we move towards net zero.”

Ambassador Paravicini

Ambassador Paravicini said: “We are pleased to have reached another milestone in our cooperation with this wonderful country. Together, we hope that this project will bring sustainable and affordable electricity to more than 6,000 small and medium-sized businesses and nearly 5,000 homes, as well as 1,100 public buildings.”

Dr. Adesina said: “The Bank supports Ghana’s efforts to build resilience to the socio-economic impacts of the COVID-19 pandemic by providing electricity to health care facilities, schools and island communities, which are currently without electricity. access to electricity services, which allows for vaccine refrigeration and testing facilities in these communities.”

Government of Switzerland

The funding from the Government of Switzerland will specifically support the expansion of Ghana’s existing net metering program and will deploy up to 12,000 units of roof-mounted net metering solar photovoltaic systems for small and medium-sized enterprises (SMEs) and households. Solar cells, also called photovoltaic (PV) cells, convert sunlight directly into electricity.

Lake Volta Region

The systems will power 750 small and medium-sized businesses, 400 schools, 200 health centers and the energy service systems in 100 communities in the Lake Volta Region and the Northern Region of Ghana. The Ghana Mini Grid and Solar PV Net Metering project is expected to have an estimated annual renewable energy electricity production of 111,361MWh, corresponding to an installed capacity of 67.5MW. The project will mitigate greenhouse gas emissions of 0.7795 million tons of CO2 equivalent per year and create up to 2,865 jobs during construction, of which 30% will go to women and youth.

African Development Fund

The total cost of the project is estimated at $85.88 million which includes the mini grid component – $40.29 million and a net metering component of $44.89 million. It will be financed with $27.39 million from the African Development Fund; Government of Ghana counterpart financing of $16 million; and $14 million from the Swiss government. In addition, the African Development Bank Group, as executing entity of the Climate Investment Funds, leveraged concessional financing of $28.49 million.

African Development Bank Group

The annual meetings of the African Development Bank Group are taking place in Accra, Ghana, under the theme: Achieving Climate Resilience and a Just Energy Transition for Africa.

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