The Board of Directors of the African Development Bank (www.AfDB.org) has approved a grant of $28.49 million for Ghana to construct renewable energy infrastructure that will increase its renewable energy use by 10% through 2030.
The financing, which will come from the Climate Investment Funds (CIF) (https://apo-opa.info/40Cg91m) – 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 practise known as net metering.
The African Development Bank seeks to promote the reduction of greenhouse gas emissions on the continent
With the latest Board approval of $28.49 million, the project’s total cost of $85.18 million is in the coffers. 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 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.
The Board of Directors of the African Development Bank (www.AfDB.org) has approved a grant of $28.49 million for Ghana to construct renewable energy infrastructure that will increase its renewable energy use by 10% through 2030. The financing, which will come from the Climate Investment Funds (CIF) (https://apo-opa.info/40Cg91m) – Scaling UpContinue Reading
A landmark partnership was signed today to foster the sustainable development and access to energy financing in Africa through the Voluntary Carbon Markets. ENGIE Energy Access (https://ENGIE-EnergyAccess.com) — one of the leading off-grid providers in Africa, ENGIE Global Energy Management & Sales (GEMS) (https://GEMS.ENGIE.com) – the energy management and salesContinue Reading
By NJ Ayuk, the Executive Chairman of the African Energy Chamber and Author of A Just Transition: Making Energy Poverty History with an Energy Mix Witnessing the far-reaching effects of South Africa’s continuing power cuts has been tremendously disheartening. The frequent and extended power outages taking place have left businesses inContinue Reading
By NJ Ayuk, Executive Chairman, African Energy Chamber (http://www.EnergyChamber.org) One of the most promising outcomes of the COP27 climate conference last November was the launch of the African Carbon Markets Initiative (ACMI). This African-led initiative is designed to significantly drive up the continent’s participation in voluntary carbon markets. Carbon marketsContinue Reading
JOHANNESBURG, South Africa, March 17, 2023/APO Group/ — The African Energy Chamber (www.EnergyChamber.org) rejects the accusations made by The Sentry as misleading, disrespectful, and unfair to South Sudan and Trinity Energy. The AEC believes The Sentry’s report is a classic case where there is a sinister rush to judgment, anContinue Reading
Energy, Capital & Power (ECP) (https://EnergyCapitalPower.com/) is proud to announce that Celedonio Placido Viera, General Director of Guinea-Bissau’s National Oil Company (NOC) Petroguin, will attend and participate at this year’s edition of the MSGBC Oil, Gas & Power conference and exhibition (https://apo-opa.info/3yolqNN) – the region’s premier event for the energy sector – whichContinue Reading
Entrepreneur, attorney and best-selling author NJ Ayuk has officially released his most recent book, titled ‘A Just Transition: Making Energy Poverty History with an Energy Mix.’ The book is now available to purchase on Amazon! Following years of diligent research and in-depth analysis, the book sheds light on the soberingContinue Reading
The African Energy Chamber (AEC) (www.EnergyChamber.org), serving as the voice of the African energy sector, recently conducted a working visit to Ghana, meeting with key institutions and stakeholders to discuss the state of play of the country’s oil and gas sector. Throughout the visit, parties discussed Ghana’s energy expansion agenda,Continue Reading
H.E Obiang Nguema Mbasogo, President of the Republic of Guinea has appointed Teresa Isabel Nnang Avomo as the new Director General for national oil company (NOC) GEPetrol, replacing H.E Antonio Oburu Ondó who was appointed Minister of Mines and Hydrocarbons in a cabinet reshuffle in early February. The selection ofContinue Reading
By NJ Ayuk, Chairman, African Energy Chamber (www.EnergyChamber.org) It would be difficult to exaggerate the value that carbon capture, utilization, and storage (CCUS) technology offers Africa’s oil and gas industry. With oil and gas-producing countries facing tremendous pressure to transition to green energy sources and leave their petroleum assets inContinue Reading
