U.S. Trade and Development Agency (USTDA) has awarded an U$704,815 grant to Home Energy Africa Limited, a Ghanaian solar power developer, for technical assistance that will help bring a 100-megawatt solar power photovoltaic (PV) project in the village of Nyimbale-Sankana, Ghana towards financial close.
Home Energy Africa has selected GreenMax Capital Advisors (Brooklyn, N.Y.) to carry out the technical assistance. This will include preparation for power purchase agreement negotiations, services contracts and financing arrangements. Implementation of the project will support the Government of Ghana in achieving its target of 5,000 MW of installed generation, including 10 percent from renewable sources.
U.S. Ambassador to Ghana, Robert P. Jackson, who signed the grant on behalf of USTDA along with President and CEO of Home Energy Africa, Charles Sena Ayenu, stated:
“Lack of power is a challenge we see across sub-Saharan Africa. Two out of three people in this region lack access to electricity. That hinders business, and it hinders prosperity. We’ve made increasing access to power one of the top priorities for our bilateral relationship. Today’s grant is just one more way we’re bringing together government and the private sector to make Ghana’s future brighter.”
Mr. Ayenu commented:
“One of Ghana’s paramount constraints to sustainable economic growth is the country’s inadequate electric power supply. This grant will support us in bringing our solar power PV project to financial close in order to fill the gap in power supply, meet Ghana’s goals for clean and sustainable energy, help create over 200 jobs to local communities and provide electricity to at least 80,000 average homes in Ghana.”
USTDA’s partnership with Home Energy Africa supports the goals of Power Africa, a U.S. government-led initiative to increase electricity access across sub-Saharan Africa.