By Mildred Siabi-Mensah
Takoradi, Nov. 18, GNA- Dr Robert Sogbadji, a Member of the Energy Transition Committee, says Ghana’s Energy Transition Framework is estimated at $562 billion.
He said, the long-term framework guaranteed the best fuel supply security due to a diversified fuel mix including natural gas and nuclear energy.
The framework sought to achieve a just and equitable transition both in universal access to electricity and the exploitation of Ghana’s natural resource to support economic development.
Dr. Sogbadji said these at a capacity building workshop on Ghana’s energy transition organized by Natural Resources Governance Institute (NRGI) for oil producing communities in Takoradi in the Western Region.
The workshop was aimed at enhancing understanding of participants on the trends and contents of Ghana’s energy transition framework, create awareness on the priorities, targets and opportunities and enhance dialogue and exchanges at the sub national level for actors to hold government accountable.
Dr. Sogbadji told participants that, the framework guaranteed access to and commercialization of the green trade market, with 21 Gigawatt (GW) installed capacity, adding “it seeks to achieve a universal access to electricity of about 98 percent by 2030.”
“It focuses on long -term cost of electricity below 4.5 cents per kilowatts. It expects to meet future electricity demand of 380,000 GW due to fuel switch,” he added.
He indicated that the minimised energy related to indoor air pollution and its related illnesses, explained that about 48,218 premature deaths would be avoided.
Again, Dr Sogbadji said, the emission of about 200 metric tonnes of carbon dioxide would be avoided.
About 30.05 million productive be gained due to upscaled adoption of clean cooking fuels which would have a significant impact on women and children, the main gatherers of firewood.
On new opportunities, he told participants that Ghana’s discovery of some critical green minerals like lithium and graphite would replace hydrocarbons in the future and could be used in the production of the Lithium -Ion Batteries (LIBs), which had growing demand for electricity storage facilities and for power generation in electric vehicles and electronics.
“The Government must therefore establish investor friendly mechanisms for commercial exploitation of the critical minerals and the management of revenues accruing from these minerals,” Dr Sogbadji suggested.
He listed adverse impacts to include potential threats to energy security, reduces funding for fossil related projects, potential of stranded assets, job losses for fossil fuel industry and revenue loss.
The Committee member noted there was also the difficulty in accessing cheap funding by developing countries to build essential energy infrastructure aside technological challenges.
GNA