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Canada’s Total Climate Finance Contribution:
$15,000,000 CAD
- 2010 to 2011: $15,000,000 CAD
Targeted Countries:
Ghana
Funding Period: 2010 to 2011
Financial Instrument:
Concessional Loan
Type of Support:
Mitigation
Project Funded through a Canadian Facility:
IFC - Canada Climate Change Program (CCCP)
Delivery Partner(s):
Description
The IFC-Canada Climate Change Program provided support to convert a gas-powered plant into a combined cycle unit, increasing its output from 220 megawatts (MW) to approximately 330 MW. This project is undertaken using waste heat recovery technology, which does not require additional fuel, and thus will not produce additional greenhouse gas (GHG) emissions.
Results/Expected Outcomes
This project is expected to have a number of benefits including increasing the supply of electricity to support Ghana’s growing economy at a more efficient cost, further diversifying the electricity supply away from over-reliance on hydro power generation, and supporting the growth of private sector investment in the power sector. Once complete, the plant will account for some 15 percent of Ghana’s power generation capacity, providing power to more than a million people. This project is expected to pave the way and establish benchmarks for future private-sector power and energy efficiency projects in the country. In addition, this project is expected to mobilize an additional $345 million in co-financing from public and private sources and lead to an estimated greenhouse gas emissions reduction of 117,800 metric tons of CO2 per year.*
Co-Financing/Mobilized Finance ($CAD):
$345,000,000
Estimated GHG (metric tons of CO₂) Reduction Associated with Project (per year)Disclaimer *:
117,800