Partner Ghana undertake projects under our ETIP – Energy Minister tells investors at COP28
Energy Minister Matthew Opoku Prempeh has said Ghana’s Energy Transition and Investment Plan (ETIP) seeks to attract US$550 billion in capital investments to scale up renewable energy and introduce nuclear energy in the country’s energy mix and for the deployment of clean cooking solutions and low-carbon solutions such as Carbon Capture Utilisation and Storage.
Dr Prempeh revealed this when he addressed investors during Ghana’s Energy Day at the Ghana Pavilion at the Conference of Parties (COP28) currently underway in Dubai, UAE.
The Energy Transition Investment Plan (ETIP), he said, anticipates that the majority of the funding for the projects will come from private sector capital and de-risking instruments.
The Government of Ghana, according to the minister, will pursue policy reforms and provide a suitable environment for the execution of the energy transition projects.
“Investments are also needed for the deployment of electric vehicles to replace Internal Combustion Engines, the construction of electric and hydrogen fuel cell charging stations, the production of biofuels, the replacement of biomass industrial boilers with electric boilers and the provision of energy-efficient electrical appliances for the residential and service sectors among others,” he said.
He continued, “The realisation of the requisite capital will culminate in universal access to affordable and reliable power by 2024, economy-wide decarbonisation, socio-economic development, about 400,000 new jobs, and above all net-zero emissions in the country by 2060.”
The Manhyia South lawmaker used the opportunity to invite all investors to partner with the Government of Ghana to undertake the projects in our Energy Transition Framework to drive industrialisation and achieve our net-zero targets.
“As I said earlier, our doors are always open and I look forward to several partnerships,” he concluded.
Source: Classfmonline.com/Cecil Mensah
Trending Business
5th cohort graduation of Kayayei empowerment programme: 620 women successfully complete
13:38ADB board chairman resigns over allegations of extortion
00:47Five-day workshop on textile waste management ends in Accra
11:54BoG directs ADB chair to resign over allegations of misconduct
09:07Newmont, MKS PAMP partner to launch Mine-to-Market Traceable Gold Bar
10:52Customer Service Week: Citizens, organisations are customer service agents of the country – Yvonne McCarthy
23:48Lufthansa hit with $4m fine for discriminating against Jewish passengers
10:43C/R: Mankessim waste treatment plant set to generate $750,000 in carbon credits
13:50Egypt approves AngloGold’s $2.5bn Centamin takeover
10:35Customer Service Week: Celebrate employees as first customers, unsung heroes – Expert to organisations
23:51