Fleet Financing

SUNREF Ghana launches € 34 million green finance program to boost renewable energy

The sustainable use of natural resources and the financing of energy (SUNREF), a green finance label developed by the French Development Agency (AFD) and supported by the European Union (EU), has launched its program of energy financing for Ghana at the Alisa hotel in Accra.

The Program is a unique and innovative financial offer, with a credit line of 30 million euros from AFD and 4 million euros from the EU, granted to local partner banks.

CalBank is the first bank to join the program. Through this partnership with local partner banks, SUNREF Ghana will offer competitive loans and technical assistance to structure green investments, to help businesses, organizations, individuals and households seize the opportunities of green finance and ecological transition.

The program aims to develop and consolidate a market for financing 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 strengthen the capacities of local actors.

In her opening remarks at the launch ceremony, the French Ambassador to Ghana, Anne-Sophie AVE declared that the collaboration between the European Union, AFD and local partner banks represents “a springboard towards energy transition and reduction of Ghana’s carbon and energy footprint. intensity. ”She said that“ the SUNREF Ghana project supports ambitious GHG emission reductions in Ghana ”and also commended“ Ghanaian partner bank CalBank for leading by example and being the first bank to join. the project “.

The Minister of Energy, Matthew Opoku Prempeh for his part declared: “the program is well designed to help small and medium-sized enterprises in Ghana to seize the opportunities created by this AFD intervention to invest in renewable energies ( ER) and energy efficiency. (EE) projects.

He further underlined that “the SUNREF program will be extended to energy efficiency initiatives, for example transport owners who wish to convert their fleet from fossil fuels to electric vehicles”.

He added that “the result of these projects will contribute immensely to the reduction of energy consumption and CO2 emissions and will allow us to achieve the Ghana target as defined under the determined contribution. at the national level of Ghana “.

As part of the launch of SUNREF Ghana, a panel consisting of representatives from CalBank, GCB Bank, Association of Ghana Industries (AGI), Association of Small Scale Industries and Solar Association of Ghana discussed sustainable management of natural resources in Ghana, focusing on the challenges and opportunities of creating a green energy market in the country.

As a major local actor in promoting renewable energy and energy efficiency in Ghana, the Energy Commission is the key partner in the implementation of the technical assistance component of the program.

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