A green energy project to significantly support the Ghanaian economy

Green Energy Project Coordinator, Normand Michaud

30 million euros to finance a green energy project

Ghana can start exporting its electricity

SUNREF will operate for 2-3 years

The country’s economy is expected to be heavily impacted by the Sustainable Use of Natural Resources and Energy Financing (SUNREF) program.

SUNREF is part of a global initiative by the French Development Agency to bring public and private banks to finance private sector investments in green technologies and sustainable energy.

With more than 30 million euros made available, SUNREF encourages manufacturers and individuals to turn to more sustainable and efficient energy sources.

Speaking to Joy Business after engaging members of the Association of Ghana Industries in Tema, SUNREF Team Leader Normand Michaud said Cal Bank and GCB Bank are partners in pushing the agenda forward. the green economy.

“If you have industries that are willing to invest to be more efficient and produce their own electricity through renewable energy, then the whole country can switch or cut the electricity. [thermal] generation that pollutes the environment. So that will help the country a lot.

“Even financially speaking, if the country can free up some of its electricity consumption, it can start selling more of it to other countries and so it will have a huge impact on the economy,” he added. .

Mr. Michaud added that “the SUNREF program is currently going to last two years or maybe three years in terms of lending by the two banks – GCB and CalBank. After that, if all goes well, there is also a possibility of doing phase II in which AfB will invest the same amount, which will last another three or four years.

The project coordinator for the SUNREF Ghana programme, who is also a representative of the Energy Commission, Ebenezer Ashie, said that the SUNREF Ghana programme, which aims to facilitate access to affordable sustainable energy and facilitate cost savings, will resonate more with the Renewable Energy Master Plan (Vision 2030) of the Ghana Energy Commission.

He urged small and medium enterprises (SMEs) and other retail consumers to take advantage of the SUNREF project.

The SUNREF project is a financing program that promotes green growth aimed at helping Ghana achieve its Vision 2030 Renewable Energy Master Plan.

SUNREF Ghana launches €32.5 million green finance program to boost renewable energy

SUNREF, a green finance label developed by the French Development Agency (AFD) and supported by the European Union (EU), launched its energy finance program for Ghana, in Accra in 2021.

The program was a unique and innovative financial offer, with a credit line of 30 million euros from AFD and 2.5 million euros in the form of grant and technical assistance from the EU, granted to banks local partners.

Through this partnership with local partner banks, SUNREF Ghana will offer competitive loans and technical assistance for structuring green investments, to help businesses, organizations, individuals and households seize the opportunities of finance. green and ecological transition.

The program aims to develop and consolidate a financing market for green investments in the field of energy efficiency, renewable energies and environmental services.

SUNREF Ghana will support eligible and viable green projects, help increase the competitiveness of businesses – especially SMEs, improve energy security and build the capacity of local actors.