The Deputy Minister of Energy and Green Transition, Mr. Richard Gyan-Mensah, has stated that the energy sector throughout the African continent relies on robust financial models, technical frameworks, and collaboration among key partners who are essential for ensuring energy sustainability and reliability.
He disclosed that the Mahama administration, in the past 18 months since taking office, has addressed the over $1.4 billion legacy debts within Ghana’s energy sector, reinstated the $500 million World Bank guarantee for the Sankofa Project, and enhanced the Cash Waterfall Mechanism.
These measures, Mr. Gyan-Mensah elaborated, have been vital in preventing erratic power supply and enhancing the reliability of electricity for both residential and industrial consumers.
He also noted that Ghana currently boasts over 5,000 MW of installed capacity, with a dependable capacity exceeding 4,700 MW, while solar energy production has seen some increases. He urged ECG and NEDCo to persist in improving access and grid stability.
Furthermore, he highlighted the importance of digitalization and advanced technology in power generation to lower costs, enhance reliability, and promote sustainability, asserting that “Ghana is prepared to share its experiences, technical expertise, and financial models that have ensured the sustainability of its power sector, while also learning from neighboring countries.”
