The Board of Directors of the African Development Bank, AfDB has approved a 28. 49 million grant for Ghana to construct renewable energy infrastructure.
This will enhance Ghana’s universal electrification goal while increasing its renewable energy use to 10 per cent by 2030.
Ghana’s renewable energy development scheme will consist of the design, engineering, supply, construction and installation, testing, and commissioning of renewable energy systems for island communities in the Volta Lake Area.
The AfDB grant approval brings the total cost of the project to 85. 18 million dollars with an additional 27. 39 million dollars having been approved by the multilateral finance institutions’ concessions window.
The African Development Fund with Switzerland State Secretariate for Economic Affairs contributed 13 million dollars and the government of Ghana contributed 16 million dollars.
The project is expected to create 2,865 jobs and livelihood opportunities out of which 30 per cent would be earmarked for women and youth.
The project also represents part of Ghana’s 2019 renewable energy master plan which has set a target of 2,514 megawatts of sustainable energy by 2030.
