Wednesday , June 19 2019
Home / News / Business News / German govt. pledges €100m to support Ghana’s renewable energy development

German govt. pledges €100m to support Ghana’s renewable energy development

The German government has committed to providing funding to support Ghana’s renewable energy development.

The pledge comes after President Nana Akufo – Addo disclosed plans to explore renewable energy sources as an alternative remedy to ending the nation’s impending power issues.

The German government made this known during the 2017 West Africa Clean Energy and Environment (WACEE) Exhibition and Conference in Accra on Tuesday– noting that the funding will be provided through its technical cooperation agency, GIZ, and development bank, KfW

Speaking at the event – Deputy Head of Mission at the German Embassy, Hans-Helge Sander, said: “Ghana has been named as one of the three countries in Africa to benefit from the bilateral reform partnership within the G-20 ‘Compact with Africa’ Programme. The initiative will bring up to an additional €100 million to support the renewable energy sector in Ghana”.

Mr. Sanders stressed that the financial support was a government-to-government arrangement, which meant that his government will mandate GIZ and KfW to implement Germany’s contribution.

“I am pointing this out because lately, several private companies have approached the embassy with requests for information about how the private sector can benefit from the German offer. As I said, there will be no direct opening for cooperation between the German government and private companies”.

He however disclosed that there would be options for private individuals and companies participation through public tenders and calls for proposal when KfW, GIZ once the Ghanaian government starts implementing the funding from the compact.

Full details on the implementation of the fund are yet to be published.

 

verifyghana.com

About AugustLiveGh

Kindly Visit www.AugustLiveGh.com for your Latest Global Celebrity News, Gossips, Events, Music, Videos, Sports, Relationships & Lifestyle, Upcoming Artistes and more. AugustLiveGh - Home of Entertainment, Music, Lifestyle & More.

Check Also

The ABC Of Food, Fashion And Arts In Ghana

I do the “akwaaba dance” in my head every time I see people pushing the …

Nana Sam Brew-Butler Withdraws From Ghana’s Delegation To FIFA

Ebusua Dwarfs majority shareholder Nana Sam Brew-Butler has withdrawn from the Ghana FA’s delegation to …

%d bloggers like this: