New renewable energy plan in the offing
Mrs. Gifty Tetteh, the Manager of Bioenergy, at the Ministry of Energy, says government is to roll out a renewable energy action plan this year to attract more than $1 billion investment in power generation, into the national grid.
She said the initiative is to ensure that, the country derives not less than 10 percent of its energy generation mix from renewable energy sources by 2020, as stipulated in the Renewable Energy Act 2011 (Act 832).
Mrs. Tetteh disclosed this in Accra, when she addressed members of the Ghanaian-German Economic Association (GGEA), at an energy forum it organised to sensitise its members, mainly German and European business interest in Ghana and West Africa.
She reiterated government’s commitment to achieve the renewable energy targets set, under the law and the action plan will spell out how the private sector can participate in funding the $1 billion investment in the next eight years to generate not less than 500 megawatts (MW) of power from renewable energy sources.
She said Act 832 provided the necessary fiscal incentives for attracting investments to renewable energy sector to achieve a 10 percent quota in the generation mix.
The GGEA, whose membership cuts across all sectors, including automobiles, energy and power, information and communications technology, services, supplies and manufacturing, organizes such burning issues that affect the economy and business operations.