Ghana’s medium- to long-term energy security is the government’s top priority.
This statement was made by Energy Minister Matthew Opoku-Prempeh during a panel discussion on “The future of Energy in Ghana-exploring the energy mix and the case for renewable energy” at the 3rd Ghana Investment and Opportunity Summit (GHIOS) 2023 in London on June 7, 2023.
Dr Prempeh stated that energy is one of the primary inputs to the economic development of any country, just as industrialization contributes to economic growth.
This, he claimed, is the cause of his efforts to make sure that the nation’s electricity and petroleum sectors are strengthened with the appropriate legislative and regulatory framework.
The presence of accessible and inexpensive energy sources, according to him, is a crucial industrialisation accelerator. He claimed that as is common for middle-income countries, Ghana’s economy has developed to become increasingly dependent on a steady supply of energy.
“The main thrust of policy objectives of all succeeding Governments in the energy sector since independence has been the push for a material increase in its energy resources for social economic development and to become a net exporter of power in the sub-region.” He said.
The Minister spoke about investment opportunities in Ghana’s renewable energy sector. He mentioned energy efficiency opportunities, such as the local production and sale of top-notch energy appliances, clean cookstoves, and the building of energy-efficient structures.
He added that there are investment opportunities in expanding new power transmission infrastructure and renovating existing infrastructure to support extensive integration of renewable energy.
In order to continue growing and advancing their individual interests, he urged investors to collaborate with Ghana.
