The Board of Directors of the African Development Bank (AfDB) Group, through its private sector window, has approved a loan of US$60 million for the expansion of the Takoradi II thermal power plant expansion. This expansion aims at improving electricity supply and energy security in Ghana.
Ghana's economy has experienced tremendous growth in the last decade, increasing the aggregate demand for electricity and creating an energy challenge that has been primarily addressed by further electricity imports. The country's installed power capacity will soon be insufficient if additional capacity is not added to meet the expected increase in demand (6.5 per cent per year).
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