John Abdulai Jinapor, Minister for Energy and Green Transition has indicated that the government is taking pragmatic measures to address challenges in the Energy sector
According to the Minister, Ghana’s Energy Sector is facing significant challenges, including an unsustainable debt of 80 billion cedis and a shortfall of over 70 billion cedis, despite ECG receivables standing at 8 billion cedis.
To address these issues, the Cabinet has approved several measures, including:
Constructing a second gas processing plant
In partnership with the Finance Ministry, the Ministry of Energy and Green Transition will take immediate steps to construct a second gas processing plant to augment the shortfall and increase supply security.
Addressing load shedding concerns
The government assured that there is no need to publish a load shedding timetable since they are not shedding load and are even exporting 300 megawatts of power to neighbouring countries.
Mobilizing additional resources
The government will mobilize additional resources to procure more fuel and sustain the power sector.
Operationalizing the renewable energy investment fund
This fund will seek to deploy renewable energy solutions to address the energy sector’s challenges.
Curtailing expenditure
The government acknowledged that the energy sector is “bleeding” and that tough decisions are needed to curtail expenditure.
Downstream Petroleum Sector developments
The cabinet approved the construction of a second mooring system in Tema, additional tankage in Takoradi, and private sector participation in downstream distribution.
These measures aim to address the energy sector’s challenges, increase supply security, and promote sustainable growth.
