The role of embedded power generation in Ghana’s energy transition

Access to reliable, affordable and cleaner energy is the foundation of sustainable growth in Africa. In Ghana, a new partnership between Standard Bank and Genser Energy is showing how climate-smart finance can deliver both economic and environmental benefits while strengthening the country’s industrial backbone.

We provided Genser Energy with US$325 million in financing for renewable energy and gas infrastructure projects that will expand access to cleaner power and reduce reliance on carbon-intensive fuels.

We led and underwrote the syndicated financing package, enabling the construction of a 100km pipeline to Kumasi, Ghana’s second-largest city, along with a gas-conditioning plant and a natural gas liquids (NGL) terminal. Together, these assets will enhance Ghana’s energy network, improve supply reliability and support the shift towards lower-carbon energy sources.

Genser Energy is Ghana’s largest embedded power generation producer, with over 200MW of installed capacity. Over the past 2 decades, the company has built 7 power plants in Ghana and 1 in Burkina Faso. These plants are supported by a 425km pipeline network that delivers cleaner, more affordable piped gas to major industrial and mining clients. This latest expansion extends access to the gold-rich Ashanti region, where natural gas availability has been limited.

The benefits are already being realised. Major energy users, particularly in the gold mining sector, are moving away from diesel and heavy fuel oil towards cleaner natural gas, cutting emissions while improving cost efficiency and supply reliability. This transition supports Ghana’s broader decarbonisation goals while strengthening the competitiveness of its industrial base.

Beyond the immediate operational impact, the project aligns with our strategy to enable decentralised energy solutions and expand renewable energy in Africa. In April 2025, we revised our sustainable finance target to mobilise more than R450 billion by 2028, with R177 billion already mobilised since 2022.

“By creating localised infrastructure that directly serves industrial hubs, we are helping to unlock economic growth while accelerating the energy transition,” says Head of Power at Standard Bank Corporate and Investment Banking Rentia van Tonder. “Genser’s strong decarbonisation commitments (including a 2035 net-zero target) made this project a natural fit for us.”

This partnership with Genser Energy is part of a broader pattern of our financing projects that combine economic development with environmental responsibility. By combining our deep sector expertise with innovative funding models, we are helping to open new energy corridors, expand industrial capacity and bring cleaner power to where it’s needed most.

Whether it’s enabling embedded power generation in West Africa or supporting cross-border energy trade, we are committed to delivering climate-smart finance that drives both economic resilience and environmental progress.