A $24 million green loan by Absa Ghana – its first ever corporate green loan in Ghana – aimed at supporting the west African country's journey to diversify its energy mix with more renewables, greatly impressed IMPACT Awards judges of the 'Impact project/investment of the year: Energy' category. The loan enabled Meinenergy Technology to finance the importation of solar panels for a 100MW solar facility for the Bui Power Authority.

It is the latest development in the renewables space for African financial services group Absa, which has become an established leader in the renewable energy finance sector, including its support for the South African Renewable Energy Independent Power Producer (REIPP) programme, and has closed several projects and supports several other developers.

In addition, it has been assisting clients entering the captive energy market, which it expects to grow significantly during the next three-to-five years as demand for renewable sources in the commercial and industrial sectors continues to rise.

Heidi Barends, head of sustainable finance at Absa, said: "Absa is at the forefront of renewable energy financing, demonstrating a strong commitment to sustainable development. Our expertise and dedication have enabled us to fund numerous wind, solar, and other renewable energy initiatives across the African continent.

"Our efforts are focused on supporting Africa's shift towards a low-carbon economy while addressing energy poverty. The Meinergy deal exemplifies our impact by adding 100MW of additional capacity, bolstering Ghana's energy supply in alignment with the country's energy transition framework."