Nana Addo Dankwa Akufo-Addo
The President of Ghana, Nana Addo Dankwa Akufo-Addo, offered Ghana’s body work on power transition at a High-Level Event organised by Bloomberg Philanthropies on Sustainable Energy for All, on the sidelines of COP27 in Sharm el-Sheikh, Egypt.
With Ghana being a signatory to the Paris Agreement and different worldwide conventions, which require the nation to cut back her carbon dioxide emission ranges, he indicated that it has grow to be crucial for Ghana to develop plans and techniques towards the creation of a net-zero power sector, while aggressively pursuing the nation’s financial growth.
President Akufo-Addo additionally said that “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”
According to President Akufo-Addo, “Energy transition has become a global responsibility for us all, especially in view of the impact of climate change, and the global energy crisis brought forth by the Russian invasion of Ukraine.”
“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”, he confused.
President Akufo-Addo continued, “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.”
To this finish, he advised the gathering that it has thus, grow to be obligatory for the Government of Ghana to develop an Energy Transition Framework that can information the nation, as all the world strikes in the direction of realizing internet zero.
The President additionally stated that the Government of Ghana, being conscious of the implications of such a framework and its implementation on all the economic system, directed the Committee to undertake in depth stakeholder consultations, along with knowledgeable enter, to provide the National Energy Transition Framework to information its transition to a net-zero economic system by 2070 in a simply and equitable method, in addition to minimise attainable stranded property and job losses within the oil and gasoline sector.
The complete value of the transition is estimated at 5 hundred and sixty-one billion {dollars} (US$561.8 billion), the President added.
Energy Transition
President Akufo-Addo additionally addressed the High-Level Meeting on “Just Energy Transition”, the place he indicated that Ghana has developed a National Energy Transition Framework to offer the imaginative and prescient and steering for Ghana’s power transition.
In making ready this framework, the President said that each one current insurance policies had been thought of and the programmes which can be being carried out in the direction of attaining Ghana’s Nationally Determined Contributions.
“Wide stakeholder consultations were held to ensure that the energy transition issues in various parts of the country were captured and addressed in the framework. These included organized and non-organized labour, market women, academia, Ministries, Departments and Agencies (MDAS), Metropolitan, Municipal and District Assemblies (MMDAs), Development Partners (DPs) and the international community,” he stated.
He defined that the Framework offers the optimum and sustainable pathway for gas provide safety, diversified power combine and cost-efficient electrical energy era, with an estimated era tariff of lower than US$4.5cents per kilowatt hour to speed up the socio-economic growth of Ghana.
“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 Giga-Watts. 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,” he added.
President continued, “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.”