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Ghana committed to increasing share of renewable energy – Akufo-Addo

  • SOURCE: thebftonline.com | Editor
    • POSTED ON: November 22, 2022
    • CATEGORY:

    President Nana Addo Dankwa Akufo-Addo has assured the global
    community of Ghana’s full commitment to increasing the country share of
    renewable energy in the energy mix.

    Speaking at a high-level event on Sustainable Energy for
    All, organised by Bloomberg Philanthropies, on the sidelines of COP27 in Sharm
    el-Sheikh, Egypt, President Akufo-Addo stated that: “We will continue to
    increase the share of renewable energy in our electricity generation mix, as
    well as explore the options of hydrogen gas and other clean energy sources to
    meet our energy needs”.

    According to President Akufo-Addo, “Energy transition has become
    a global responsibility for us all, especially in view of the impact of climate
    change, and the global energy crisis brought forth by the Russian invasion of
    Ukraine”.

    With Ghana being a signatory to the Paris Agreement and
    other international conventions which require the country to reduce her carbon
    dioxide emission levels, he indicated that it has become imperative for Ghana
    to develop plans and strategies toward the creation of a net-zero energy sector
    while aggressively pursuing the nation’s economic development.

    “Our updated Nationally Determined Contributions, under the
    Paris Agreement, affirm the country’s resolve to address the impacts of climate
    change, and build a resilient economy for our people,” he stressed.

    President Akufo-Addo continued: “Ghana’s position on energy
    transition is to continue the responsible exploitation of our natural resources
    for our development and transition at our own pace. The Government of Ghana is
    mindful of the actions of the developed countries in relation to energy
    transition and their effect on us”.

    To this end, he told the gathering that it has, thus, become
    necessary for the Government of Ghana to develop an Energy Transition Framework
    that will guide the country as the entire world moves toward realising net zero

    The President also said that the Government of Ghana, being
    mindful of the implications of such a framework and its implementation on the
    entire economy, directed the committee to undertake extensive stakeholder
    consultations, in addition to expert input, to produce the National Energy
    Transition Framework to guide its transition to a net-zero economy by 2070 in a
    just and equitable manner, as well as minimise possible stranded assets and job
    losses in the oil and gas sector.

    The total cost of the transition is estimated at five
    hundred and sixty-one billion dollars (US$561.8 billion), the President added.

    Energy transition

    President Akufo-Addo also addressed the high-level meeting
    on ‘Just Energy Transition’, where he indicated that Ghana has developed a
    National Energy Transition Framework to provide the vision and guidance for
    Ghana’s energy transition.

    In preparing this framework, the President stated that all
    existing policies were considered, and the programmes that are being
    implemented are geared toward achieving Ghana’s Nationally Determined
    Contributions.

    “Wide stakeholder consultations were held to ensure that the
    energy transition issues in various parts of the country were captured and
    addressed in the framework. These included organised and non-organised labour,
    market women, academia, Ministries, Departments and Agencies (MDAs),
    Metropolitan, Municipal and District Assemblies (MMDAs), Development Partners
    (DPs) and the international community,” he said.

    He explained that the framework provides the optimal and
    sustainable pathway for fuel supply security, diversified energy mix and
    cost-efficient electricity generation, with an estimated generation tariff of
    less than US$4.5cents per kilowatt-hour to accelerate the socio-economic
    development of Ghana.

    “Ghana aims to achieve universal access by 2024. The Energy
    Transition Framework will meet future electricity demand of 380 Terawatt-hours,
    with a corresponding installed capacity of 83 Giga-Watts. Ghana’s diversified
    energy mix will include 21 Gigawatts of renewable energy installed capacity,
    which will provide the opportunity to enjoy a greater share in the renewable
    energy carbon credit market,” he added.

    The President continued: “The transition will mitigate 200
    million tonnes of carbon dioxide of Green House Gas emissions, minimising
    energy-related indoor air pollution and associated diseases. It is estimated
    that 48,218 premature deaths will be avoided annually due to the improvement in
    air quality, resulting from the impact of the transition”.

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