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Business News of Tuesday, 4 October 2022


National Energy Transition Plan to be outdoored by end of October - Egyapa Mercer

Deputy Minister of Energy, Andrew Egyapa Mercer play videoDeputy Minister of Energy, Andrew Egyapa Mercer

Deputy Minister of Energy, Andrew Egyapa Mercer, has said the National Energy Transition Plan will be completed and outdoored by the end of October this year.

According to him, the Plan will serve as a roadmap toward Ghana’s journey toward achieving net zero carbon emissions.

Speaking at the first edition of the Africa Energy Conference organised by the Business and Financial Times Newspaper on October 4, 2022, the deputy energy minister reiterated that Ghana will move at a rather slow pace toward transitioning while taking into consideration not stranding its existing energy assets.

“Ghana has seen the need to develop a National Energy Transition Plan to guide its journey towards attaining net zero status at a pace realistic to the country’s peculiar circumstances.”

“Ghana’s plan is informed by both available and prospective energy sources, accessing financing measures and other factors. I am glad to hint to you that by the end of this month, the National Energy Transition Plan will be outdoored,” the Minister said.

While Africa’s contribution to global carbon emission stands at less than 4 percent, Egyapa Mercer believes that the continent must adopt new and innovative methods to attract energy finance and investment.

“Local technical capacity must be speedily enhanced to reduced reliance on Western support energy-related and cross border collaboration amongst African nations must be encouraged”

He explained that this will ultimately ensure than African nations derive maximum value for their oil and gas resources which must be left to waste.

Through National Energy Transition Plan, Ghana plans to accelerate and focus on the promotion of sustainable energy through low carbon power generation with a target of 10 percent of renewable penetration by 2030.

The transition is expected to also promote energy efficiency in buildings (homes, industry and commerce), decarbonisation of oil and gas production as well as market-based cleaner cooking solutions.

However, achieving this will require an unprecedented shift away from fossil fuels to renewable energy sources like wind and solar as well as the provision of clean, affordable and reliable energy for consumers.

Africa Energy Conference

The maiden edition of the conference was aimed at highlighting the infrastructure gap, financing options and energy transition opportunities in Africa's energy sector.

It was held under the theme, 'Africa’s energy future' – achieving an all-round competitiveness and sustainability to support the continent’s development ambitions.