Ghana’s drive towards a diversified energy mix and renewable resources receives a major boost! Absa Ghana facilitates a groundbreaking $24 million corporate green loan to finance a pioneering 100 MW solar plant for the Bui Power Authority.
This move strengthens the country’s energy capacity and demonstrates its commitment to sustainable development.
Meinergy Technology Limited, a reputable company specializing in renewable energy solutions, is set to spearhead the transformative solar project.
The deal also marks the first-ever green loan undertaken by Absa Ghana, solidifying its position as a leading advocate for green energy and regional sustainability.
The Absa team’s tireless efforts to secure this landmark deal were underpinned by strict adherence to the bank’s rigorous sustainable lending requirements.
The project underwent thorough scrutiny to meet specific criteria and standards, ensuring its successful passage as a commendable green loan initiative.
Ellen Ohene-Afoakwa, Director of Corporate and Investment Banking at Absa Bank, emphasized the institution’s unwavering commitment to Africa’s clean energy transition.
She said, “The world’s attention is increasingly turning towards clean energy and climate change mitigation. We firmly believe that a diversified power sector, combining thermal and renewable sources, is the key to addressing Africa’s energy needs.
“As a bank, we are fully dedicated to supporting Africa’s clean energy revolution, which will spur job creation, stimulate economic growth, and alleviate poverty. This perfectly aligns with our purpose of empowering Africa’s tomorrow together, one story at a time.”
Meinergy Technology’s impressive track record of delivering major renewable projects across the continent played a pivotal role in the deal’s success.
The company’s previous accomplishments include a power supply to ECG from its 20 MW solar farm in Winneba and a successful 10 MW project in Longyuan for the State Grid Corporation of China.
Absa’s forward-thinking green loan, combined with Meinergy’s expertise, sets Ghana on a path to remarkable progress in its transition to cleaner and more sustainable energy solutions.
With the Bui Power Authority’s 100 MW solar plant, Ghana is set to bolster its energy capacity and solidify its position as a regional leader in pursuing a greener future.
