AfriRen will use part of the finance to help build woodchip factory and storage facilities at its site near the Ghanain port of Takoradi.
The site is being developed by its Takoradi Renewable Energy subsidiary as part of an $8m investment by AfriRen in biomass production in the West African nation.
AfriRen harvests redundant rubber trees that are cleared for replanting and processes them to make woodchip biomass for export to Europe.
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