to-the-point: Germany, Ghana sign EUR 100m renewables deal

Germany and Ghana have signed a EUR-100-million (USD 117.8m) bilateral agreement to support private investment in renewable energy projects in Ghana.

The investment and reform partnership agreement was signed on Wednesday during German President Frank-Walter Steinmeier’s three-day visit to Ghana, local media reported. The deal, which will also provide funds for vocational training, is part of Germany’s G-20 Compact with Africa for promoting private investment and sustainable economic development there.

Ghana’s President Nana Addo Dankwa Akufo-Addo noted that renewable energy was among Ghana’s priorities and expressed hope that the collaboration with Germany will help it tap its ample hydropower resources and other renewable energies.

(EUR 1.0 = USD 1.178)

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