By Enyichukwu Enemanna
The African Development Bank (AfDB) has approved the sum of $28.49 million in grant for Ghana to construct renewable energy infrastructure expected to raise the use of green by 10% through 2030.
The bank in a statement on Monday on its website, said the project which will come from the Climate Investment Funds (CIF) – Scaling Up Renewable Energy Program in Low Income Countries (SREP), will support construction of mini-grids, stand-alone solar photovoltaic systems and solar-based battery facilities for storing excess power, a practice known as net metering.
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With the latest approval of $28.49 million by the bank’s Board of Directors, the project’s total cost of $85.18 million is in the coffers, the statement said.
The African Development Fund, the Bank’s concessionary window, has provided $27.39 million while Switzerland’s State Secretariat for Economic Affairs and the government of Ghana have contributed $13.30 and $16 million respectively.
The statement added, “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.
“It is expected to contribute to closing gender gaps at the outcome level by creating 2,865 equitable jobs and livelihood opportunities out of which 30% will be for women and youth.
“Under its New Deal on Energy for Africa, the African Development Bank seeks to promote the reduction of greenhouse gas emissions on the continent as well as light up and power Africa as part of its High 5 priority objectives for enhancing the continent’s socioeconomic development.”
