World Bank Pledges support to boost Ghana’s renewable energy and flood control efforts

The World Bank has promised to help Ghana increase access to renewable energy. Their focus is on providing low-emission, reliable, and affordable electricity. This support will benefit both businesses and individuals.

The Bank also aims to address flooding issues in the country. They plan to improve infrastructure for better flood resilience. Mr. Wencai Zhang, the World Bank’s Managing Director, shared these plans during a recent visit.

Mr. Zhang toured several World Bank-supported projects in Ghana. He visited Africa’s largest solar rooftop project, launched in July 2024. This 16.82-megawatt installation is located in the Tema Free Zone.

The solar project offers cleaner and more cost-effective energy for businesses. Mr. Zhang also inspected drainage works under the Greater Accra Resilient and Integrated Development (GARID) project. These upgrades aim to reduce flood risk and improve waste management.

He concluded his visit at the Kwame Nkrumah Memorial Park, funded by the World Bank's Ghana Tourism Development Project (GTDP). During discussions with LMI Holdings, he emphasized ongoing support for sustainable infrastructure.

Mr. Zhang believes the solar project will lower energy costs and enhance efficiency. It will also help reduce emissions in Ghana's energy sector. He mentioned future projects aimed at supporting industrialization and expanding renewable energy development.

“We will provide financing and share best practices from other countries,” he added. Energy Minister John Abdulai Jinapor praised the World Bank's support for integrating more solar energy into the grid.

He encouraged LMI Holdings to participate in future projects with competitive pricing as Ghana prepares an all-in-one solar system for streetlights.