The Sustainable Use of Natural Resources and Energy Finance (SUNREF) programme, implemented with financial support from the European Union (EU) and Agence Française de Développement (AFD), officially concluded on Thursday, January 22, 2026.
This marks a major milestone in Ghana’s efforts to promote sustainable finance, climate-friendly investment, and private sector-led green growth.
The closing ceremony, hosted by the Energy Commission (EC) of Ghana at the Nearly Zero-Energy Building (nZEB) in Accra, capital of Ghana brought together high-level representatives from the Government of Ghana, the Ambassadors of France and the European Union, the Country Director of AFD, partner financial institutions—CAL Bank and GCB Bank—project developers, and other key stakeholders.
SUNREF Ghana, hosted by the Energy Commission, was designed to promote private sector investment in renewable energy, energy efficiency, and environmentally sustainable projects, while strengthening the capacity of local financial institutions to originate and manage green finance portfolios.
The programme combined dedicated credit lines of €30 million from AFD, €2 million in technical assistance from the EU Africa Infrastructure Trust Fund, and investment grants amounting to €2.4 million.
These instruments provided additional incentives to improve the financial viability of eligible green investments and supported the adoption of cleaner and more efficient technologies.
Through SUNREF Ghana, partner banks enhanced their capacity to assess and finance sustainable projects, while eligible enterprises gained access to long-term financing and targeted incentives.
The programme delivered measurable climate and environmental benefits in line with Ghana’s national energy and climate policies.
Under SUNREF Ghana, seven (7) projects have been completed, representing a total loan portfolio of approximately US$20 million. In addition, four (4) projects with an estimated loan value of US$5.5 million are currently under assessment by the partner banks.
The completed projects achieved significant climate and energy outcomes, including estimated annual energy savings of 7,736 megawatt-hours (MWh), the installation of 0.8 megawatts (MW) of renewable energy capacity, and annual greenhouse gas emission reductions of about 139,020 tonnes of carbon dioxide (CO₂).
This performance significantly exceeded the programme’s initial target of 13,300 tonnes of CO₂ equivalent.
Speaking at the event, representatives of the EU, AFD, and the French Embassy in Ghana underscored that SUNREF Ghana forms part of broader EU–Ghana and France–Ghana cooperation aimed at supporting sustainable economic development, climate action, and private sector engagement.
The programme, they noted, demonstrates how EU- and AFD-supported financial instruments can mobilise local financial institutions and businesses to deliver tangible climate and development outcomes.
During the ceremony, the EU Ambassador to Ghana, H.E. Mr. Rune Skinnebach, and the French Ambassador, H.E. Ms. Diarra Dimé-Labille, highlighted the success of the SUNREF programme as the first comprehensive green finance initiative deployed at scale in Ghana, contributing significantly to the development of a sustainable finance ecosystem in the country.
Senior officials from the European Union, the French Embassy, AFD, and partner banks—CAL Bank and GCB Bank—were present at the event.
The Acting Executive Secretary of the Energy Commission, Ing. Eunice A. Biritwum noted that the SUNREF Ghana Programme has provided a strong platform for Ghana as it advances its energy transition and climate resilience agenda.
She highlighted the achievements and lessons learned from the programme, stating that it demonstrated how climate finance can work effectively when it is well structured, locally anchored, and results-oriented.
She said these lessons will continue to inform how the Energy Commission designs and implements future climate finance initiatives in Ghana. According to her, the formal closure of the SUNREF Ghana Programme does not mark the end of the collective journey towards sustainability.
Rather, she emphasised that “the true success of SUNREF will be measured by how its principles are mainstreamed and scaled—within partner banks, across new sectors and technologies, and through future EU/AFD-supported programmes.”
Clémentine Dardy, AFD Country Director, lauded the institutional collaboration that ensured the successful execution of the programme, highlighting the bank’s role in advancing green energy projects and climate financing.
Commenting, EU Ambassador Rune said SUNREF Ghana was never only about carbon numbers, but rather building capacity that lasts beyond the project itself.
He said through the program, partner banks learned that even sunshine can be bankable.
As the SUNREF programme concludes, stakeholders emphasised the need to build on its achievements to further scale up sustainable finance in Ghana, strengthen climate-resilient investments, and support the country’s commitments under the Paris Agreement and its updated Nationally Determined Contributions (GH-NDCs).
The successful completion of the programme has significantly transformed the landscape of renewable energy and energy efficiency in Ghana.
Continued visibility and replication of such interventions are expected to enhance the profile of the Energy Commission and attract additional funding to support its promotional and regulatory activities.
The programme ended with a tour of The Nexus, nearly Zero Energy Building located at the Airport Residential area by OMA Group.
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