Sharm el-Sheikh, Nov. 7, GNA – President Nana Addo Dankwa Akufo-Addo Monday assured the global community of Ghana’s full commitment to enhancing the proportion of renewable energy in the national energy generation mix.
“We will continue to increase the share of renewable energy in our electricity generation mix, as well as explore the options of hydrogen gas and other clean energy sources to meet our energy needs,” he said when addressed a High-Level Event on ‘Sustainable Energy for All’ held on the sidelines of the COP27 in Sharm el-Sheikh, Egypt.
The event was organized by Bloomberg Philanthropies, a philanthropic organization that focuses resources on the environment, public health, the arts, government innovation and education.
President Akufo-Addo emphasized that energy transition had become a global responsibility for all, especially in view of the impact of climate change, and the global energy crisis brought forth by the Russian invasion of Ukraine.
With Ghana being a signatory to the Paris Agreement and other international conventions, he indicated that it had become imperative for the country to develop plans and strategies toward the creation of a net-zero energy sector, whilst aggressively pursuing the nation’s economic development.
“Our updated Nationally Determined Contributions, under the Paris Agreement, affirm the country’s resolve to address the impacts of climate change and build a resilient economy for our people.
“Ghana’s position on energy transition is to continue the responsible exploitation of our natural resources for our development and transition at our own pace. The Government of Ghana is mindful of the actions of the developed countries in relation to energy transition, and their effect on us,” he stressed.
To that end, the President stated that it become necessary for the Government of Ghana to develop an Energy Transition Framework that would guide the country, as the entire world moved towards realizing net zero
He also indicated that the Government of Ghana, being mindful of the implications of such a framework and its implementation on the entire economy, directed the Committee to undertake extensive stakeholder consultations, in addition to expert input, to produce the National Energy Transition Framework to guide its transition to a net-zero economy by 2070 in a just and equitable manner.
The Framework provides the optimal and sustainable pathway for fuel supply security, diversified energy mix and cost-efficient electricity generation, with an estimated generation tariff of less than US$4.5cents per kilowatt hour to accelerate the socio-economic development of Ghana.
The total cost of the transition is estimated at US$561.8 billion.
“Ghana aims to achieve universal access by 2024. The Energy Transition Framework will meet future electricity demand of 380 Terawatt-hours, with a corresponding installed capacity of 83 Gigawatts. Ghana’s diversified energy mix will include 21 Gigawatts of renewable energy installed capacity, which will provide the opportunity to enjoy a greater share in the renewable energy carbon credit market,” the President said.
“The transition will mitigate 200 million tons of carbon dioxide of Green House Gas emissions, minimising energy-related indoor air pollution and associated diseases. It is estimated that forty-eight thousand, two hundred and eighteen (48,218) premature deaths will be avoided annually due to the improvement in air quality, resulting from the impact of the transition,” he added.
GNA