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Business News of Wednesday, 8 November 2017


Energy Ministry to provide cheap renewable energy – GIPC boss

The Chief Executive Officer of Ghana Investment Promotion Centre, Yofi Grant has reiterated government’s commitment in making the energy sector a profitable one by rationalizing the sector to provide cheap renewable sources of energy.

According to Mr. Grant, the energy sector remains a major priority for government as it believes that would be the hallmark of the country’s development.

Speaking on the second day of the 6th West African Clean Energy & Environment Exhibition and Conference at the Accra International Conference Centre Wednesday, November 8, the GIPC boss maintained that the energy ministry in its bid to have clean renewable energy as a major part of the energy mix is facilitating investments in the sector.

He further explained several challenges facing the energy sector that needs to be addressed especially when it comes to policies indicating that multiple players in the energy sector make it difficult for them to come to an agreed position adding that government is working to address the issue.

“We do have all these renewable potentials which we need to exploit. One of the issues that have besieged the development of the energy and investment into energy is also policy inconsistency and policy confusion. In Ghana for example where we have a sector that has multiple players, is sometimes very difficult to navigate all these things to have a consistent policy direction that everybody understands and so it makes it easier to risk and invest in”, he said.

He said the Energy Minister Boakye Agyarko has assured him that any new contracts in the supply of energy to the country will now be in the renewable space.