IFC Provides $39.5 Million to Expand Solar Power in Ghana’s Industrial Zones
IFC backs a $39.5 million financing package for a 100‑MW solar project in Ghana’s Dawa Industrial Zone.
In Brief
- •IFC backs a $39.5 million financing package for a 100‑MW solar project in Ghana’s Dawa Industrial Zone.
- •The project will supply renewable electricity to over 100 businesses in Tema and Dawa industrial zones, creating about 250 direct and 500 indirect construction jobs and 19 permanent operational roles.
- •The $39.5 million tranche is the second of a $100 million facility; IFC previously committed $21 million in FY24, disbursed in FY25.
- •The solar plant is part of a planned 200 MW photovoltaic facility, expanding existing renewable infrastructure that includes a 16.82 MW rooftop solar plant at Tema and an 11,000‑m³/day water treatment plant at Dawa.
Why It Matters
By delivering reliable, affordable renewable electricity directly to industrial customers, the project aims to reduce production costs, lower carbon intensity, and enhance the competitiveness of locally manufactured goods in Ghana. The investment also supports the country’s broader industrialisation strategy by addressing a key bottleneck—energy reliability—without relying on additional conventional generation.
Key Details
- Financing Amount
- $39.5 million
- Project Capacity
- 100 MW
- Jobs Created
- 250 direct & 500 indirect construction jobs, 19 permanent operational positions
- Tranche Sequence
- Second tranche
- Total Facility
- $100 million
- Operational Positions
- 19 permanent positions
Context & Background
Ghana’s industrial growth has historically been constrained by unreliable and costly electricity supply. This solar expansion seeks to address that challenge by providing dedicated renewable power to key industrial zones.
Original Reporting & Sources
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