Mission Efficiency Marketplace event helps drive energy efficiency investment in Ghana

The Mission Efficiency Marketplace is a new platform for fostering a thriving ecosystem of energy efficiency projects within target countries, including Ghana. Through regular virtual and in-person workshops, government representatives, financial institutions, industry, and other stakeholders can exchange knowledge and brainstorm solutions to common barriers. Together, they discuss the actions needed to deploy new investments into best-in-class efficiency projects.

In Ghana, the marketplace has already unlocked financing for e-mobility company Solar Taxi, by linking them to Sunref – a green financing programme. Solar Taxi increased its fleet from 0 to over 1000 electric bikes with the help of Sunref financing, and they are now adding e-buses.  

The event in Accra showcased real-world examples like Solar Taxi and Sunref, along with strategies from partners on how to finance energy efficiency projects, including Ghana's Energy Transition Investment Plan, which emphasizes energy efficiency and sustainable cooling as key parts of reaching clean energy goals.

Barbara White Nkoala, Country Director, SNV noted that the Mission Efficiency Marketplace is a valuable platform for identifying bankable cooling and energy efficiency projects for commercial financing.  

"Two key things are needed to unlock the potential of sustainable cooling in Ghana," said Eunice Biritiwum, Associate Director at Deloitte. "First, we need dedicated, low-interest funding to support pilot projects. These projects can demonstrate the real-world impact of making sustainable cooling solutions accessible to everyone. Second, raising awareness is crucial. We need to get the word out about the investment opportunities in energy efficiency, so more people can get involved."

Hubert Zan, Assistant Manager for Energy Efficiency at the Energy Commission of Ghana, hailed the Mission Efficiency Marketplace for its convening power, saying, “In Ghana, the Mission Efficiency Marketplace is a valuable platform as it fosters a dynamic environment that encourages broader participation from financiers, driven by research data and community engagement. Enhanced engagement with communities is important in scale these solutions and ensuring buy-in from all stakeholders.”

The Marketplace will be organized quarterly with follow ups on project progress in terms of gaining support for scale up. Funders will be invited to the marketplace to get current information on projects and technical support for them.