COP26: NAPO woos investors to invest in Energy Sector

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Cop26 Campaign
Cop26 Campaign

Dr Matthew Opoku Prempeh, Minister of Energy, has wooed investors into Ghana’s energy sector, saying, “come over to explore the opportunities, and help the country attain the Sustainable Development Goal seven(SDG7).”

The SDG goal 7 aims at ensuring access to affordable, reliable, sustainable and modern energy for all.

Ghana’s resolve is to achieve universal access to electrification by 2025 through the development of eco-friendly energy supply chain, double access to clean cooking fuels and technologies, Dr Opoku Prempeh announced at an Energy Day event held alongside the ongoing COP26 in Glasgow, United Kingdom.

He mentioned that investment opportunities abound in areas in utility scale, distributed generation, mini-grid and off-grid renewable energy based-electrification systems.

“There are opportunities for clean cooking including promotion and distribution of LPG and biomass end-user technologies. Based on technologies, improve biomass cook stoves have also been created.

“Finally, Ghana is positioned to partner prospective investors to scale up its Renewable Energy penetration with respect to remote off-grid communities as part of the last mile electrification,” the Minister stated.

He said the subject of energy had become one of the most important global issues for discussion from industrialisation, social and economic development and climate change viewpoints, and that the country’s drive in that direction would include the development of eco-friendly energy supply chain, double access to clean cooking fuels and technologies.

Touching on the government’s progress in the energy sector, the Minister mentioned that by the end of the third quarter of 2021, the country had achieved national electricity access rate of 86.63 per cent and a 120MWe grid-connected installed solar PV capacity, representing 2.4 per cent renewable energy in the national generation mix.

There was also the creation of the first ever renewable energy park in the sub-region, which has the capacity to hold up to about 65Megawatt capacity at Bui, with the potential for up to 250Megawatt solar PV plant that would be hybridized with the existing Bui 400MW hydropower plant.

Dr Prempeh said: “We are fast transitioning the Volta River Authority (VRA) to increase its renewable energy asset portfolio. Some 20MW of solar have been completed by the VRA and construction of 50MWe solar PV by the VRA is ongoing, which is to be hybridized with the Pwalugu Multipurpose Hydropower plant.”

He said energy for cooking in households was also seriously being pursued by Ghana, and currently accounted for more than 35 per cent of the total energy supply.

He affirmed Ghana’s commitment towards the climate fight and in addressing the energy needs of its people in a more sustainable way.

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