Hubroot Limited, through USAID, partners Ecobank to close first renewable energy bank loan deal for Power Africa

29 Aug Hubroot Limited, through USAID, partners Ecobank to close first renewable energy bank loan deal for Power Africa

Under USAID-Power Africa project, Hubroot Limited has successfully facilitated, the approval of two renewable energy loans, totaling $2.7 million to a Local RE Firm. Funded by Ecobank Ghana, the loans will fund two contracts to supply off-grid solar energy to four commercial organizations in the nation’s capital, Accra.

The loan proceeds will enable the Firm implement four executed EPC contracts to small and medium size entities (SMEs) install solar photovoltaic arrays and substantially reducing their energy bills. The four solar projects will add 3.3 MW of off-grid renewable electricity to Ghana’s supply. The four projects will be executed in Accra.

Hubroot structured and developed the business plan and credit model for the beneficiary, facilitating the credit approval process through an innovative Business Advisory Service mechanism. The Team would continue to engage potential companies seeking to develop off-grid renewable energy systems in Ghana