Ghana and Germany signed a MoU providing the West African nation €100 million to develop its renewable energy sector.
The provision of these funds falls under the G-20 Compact program,aimed at ensuring ensure Africa’s sustainable development.
The convention which looks at developing renewables and promoting energy efficiency also involves technical training.
“Germany and Ghana are focused on strengthening competition on power generation and make the renewable energy sector a shining example, to reduce the cost of power generation, introduce open and competitive bidding and get best value for money from investors,” said Germany’s ambassador to Ghana, Christoph Retzlaff.