Business News of Monday, 3 August 2026

Source: www.ghanaweb.com

'I look forward to VRA venturing into nuclear energy' - Richard Gyan-Mensah

He made the remarks at the opening ceremony of the 60th AGM of APUA He made the remarks at the opening ceremony of the 60th AGM of APUA

The Deputy Minister for Energy and Green Transition, Richard Gyan-Mensah, has backed calls for Ghana and the rest of Africa to invest in nuclear energy.

He made the remarks at the opening ceremony of the 60th Annual General Meeting of the Association of Power Utilities of Africa (APUA) on July 27, 2026.

He noted that the energy sector across the African continent depends on strong financial models, sound technical structures, and cooperation among key stakeholders to ensure energy sustainability and reliability.

"I look forward to the Volta River Authority (VRA) venturing into nuclear energy production to explore the opportunities and advantages it offers, including clean energy, high reliability, and improved energy density," Gyan-Mensah said.

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The week-long event, hosted by the VRA in partnership with the Electricity Company of Ghana (ECG), the Bui Power Authority (BPA), and the Ghana Grid Company (GridCo), brought together leaders of Africa's power sector and industry experts from across the world under the theme: "Accelerating Africa's Electricity Market Integration: Advancing Regulatory Readiness, Regional Market Development and Strategic Partnerships."

He also praised the Mahama administration for settling the energy sector's $1.4 billion legacy debt over the past 18 months.

He added that the government had restored the $500 million World Bank guarantee for the Sankofa Project and strengthened the Cash Waterfall Mechanism.

The Deputy Minister further emphasised the need for digitalisation and advanced technology in power generation to reduce costs while improving reliability and sustainability.

"Ghana is ready to share its experiences, technical expertise, and financial models that have contributed to the sustainability of its power sector, while also learning from sister countries," he said.

He further indicated that Ghana currently has more than 5,000 megawatts (MW) of installed generation capacity, with a dependable capacity exceeding 4,700 MW. He added that solar power generation has also increased and called on the ECG and the Northern Electricity Distribution Company (NEDCo) to continue improving electricity access and grid stability.

ANAS/MA

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