Under the agreement, GCB and SUNREF will continue to offer competitive loans and technical assistance for structuring green investment to companies, organisations, individuals and households
The “Scaling-up renewable energy Programme (SREP),” is to close Ghana’s 12.8 percent electricity reach deficit by increasing access to clean and reliable energy and support socioeconomic development.
Government is anticipating a significant utilization of renewable energy sources towards attaining the UN Sustainable Development Goal 7 by 2030.
The news comes as Vice President Bharrat Jagdeo said that the nation’s oil wealth poses a risk, and that diversifying the fastest growing economy in the world would be critical.
A Deputy Minister of Energy, Dr Mohammed Amin Adam, has said the government will continue to explore comprehensive and viable options to cater for the Ghana’s transition from fossil fuels to renewables.
Even before Russia sent troops over the border into Ukraine, Europe and the U.S. had been attempting to secure other sources of natural gas.
Finance Minister said that Ghana has multiple oil blocks that can help with the nation’s development but the West is calling for adrift
Despite accusations of spending too much money on oil and gas rather than renewables, oil companies appear to not be spending enough on oil and gas.
Government has been cautioned to resist all forms of coercion to relinquish its oil and gas resources for renewable energy without having proper
structures in place
African governments must increase investment in renewal energy to address the power challenges facing the continent, Kunmi Odunoku, Product Manager, West Africa, Eaton International Industries, Nigeria Limited, has said