President Akufo-Addo calls international partners to invest in Ghana's solar energy sector
The President of the Republic, Nana Addo Dankwa Akufo-Addo, has called for international partners and other investors to invest in the country’s energy sector, especially in the area of solar energy generation.
He encouraged such potential partners and investors to partner with the Volta River Authority (VRA) in harnessing the huge renewable energy source to increase power generation and availability in the country.
President Akufo-Addo made the call on Tuesday during the commissioning of the 13-megawatt solar power plant at Kaleo in the Upper West Region.
“I encourage international partners who are seeking to invest in other sectors of the country to work with the Volta River Authority to develop more of such projects in these environs,” he appealed.
He said renewable energy was a solution to the eradication of poverty, improvement of livelihoods and a catalyst for socio-economic development.
The construction of the Kaleo 13-megawatt solar power plant was with funding support from the German Government’s Development Bank, KfW.
The President disclosed that additional funding has been secured funding from the German Development Bank to construct an additional 15-megawatt plant at Kaleo, which will be completed in less than a year, to bring the total generation capacity to 28-megawatt.
“I am happy to announce that even as we commission this project, the construction of an additional 15-megawatt plant has already begun, and funding has duly been secured from our partners, the German Development Bank, KfW,” he indicated.
President Akufo-Addo commended the German government for the strong relations, cooperation and partnership with the government of Ghana in funding the project and expressed hopes of more “fruitful exchanges in the future.”
The German Ambassador to Ghana, Daniel Krull said the German government was proud to have partnered with the government of Ghana and the Volta River Authority in executing the solar power project.
“We have committed for this project almost 38 million Euros, towards the completion of the project, and we have provided consultancy during the entire planning and construction process,” he stated.
He commended the Spanish energy company, Elecnor S.A – the contractor for the solar power project – and its local staff for implementing the project in a timely and very professional manner.
He indicated that the project will make the power supply in the region more reliable and promote inclusive development.
He said the solar energy sector is a technically feasible and economically viable area and encouraged independent power producers to take advantage and invest in the sector.
The Deputy Minister of Energy, Dr Mohammed Amin Adam, indicated that the government has earmarked to install at least 1,350MWp capacity of renewable energy by the end of 2030 in its clean energy provision and climate change mitigation efforts.
He said the current renewable energy capacity of the country stood at 151MWp with the Akufo-Addo’s government contributing 114MWp, representing 75 percent of the current total installed capacity.