The Government of Ghana on May 25, 2022 signed a grant agreement of $69.88 million to implement the Scaling-Up Renewable Energy Programme (SREP). The Agreement was signed, between the Government and the African Development Bank (AfDB), the Climate Investment Fund (CIF) and the Swiss Government Federation.

The Minister of Finance, Ken Ofori-Atta, signed on behalf of the Ghana government while the President of the AfDB Group, Dr Akinwumi Adesina and the Governor of Switzerland AfDB Group, Ambassador Dominique Paravicini, signed on behalf of the financing partners on the sidelines of the Annual Meetings of the AfDB Group in Accra. The Agreements were witnessed by the Minister of Energy, Hon. Dr. Matthew Opoku Prempeh.

The project has 3 main components: Mini-grid and stand-alone solar homes systems for rural off-grid communities, to be implemented by the Ministry of Energy, and the Net-metered solar PV systems for urban and per-urban electricity consumers, to be implemented by the Energy Commission.
Under the Agreement, about 6,890 households, 6,001 Small and Medium-sized Enterprises (SMEs) and 6,890 public buildings will benefit from net-metered solar PV systems. About 1,350 schools and 500 health centres in rural off-grid areas would also benefit from the project. Seventy (70) communities across 9 Island districts will be electrified using renewable energy-based mini grids systems.

The SREP will contribute to the 10% renewable energy by 2030 penetration target, carbon emission reduction target as well as the universal electricity access target, which currently stands at 87.1%.

The project is in line with Government of Ghana’s energy policy targets, Renewable Energy Master Plan and climate obligation under the Paris Agreement.