Business News of Thursday, 5 October 2017
Government has emphasized that it will no longer sign any Power Purchase Agreement(PPA) for thermal generation of electricity.
Per the decision by the Akufo-Addo administration, agreements will only be signed for the purchase of power from renewal energy sources, Vice President Dr Mahamudu Bawumia has said.
This position by government comes on the heels of the ratification of the International Solar Alliance Treaty yesterday by parliament in a move which offers the country an opportunity to reduce dependence on fossil fuel through the use of solar and other renewable energy resources.
Dr Bawumia who made this known at the 3rd Advancement Lecture Series 2017 at the University of Cape Coast on Wednesday, said:”our goal fundamentally is to move Ghana away from the dependence on thermal energy towards renewable energy as the primary source of power for homes, offices and certainly for all public facilities.”
Addressing participants on the theme, “Developing stronger economies for the African continent: the missing link,” he explained that with the use of technological advancement, developing human capacity and an enforcement of the rule of law, Africa will reach its highest potential in economic stability.
According to him, Ghana has begun building a stronger economy with the New Patriotic Party (NPP) government policy interventions like the digital addressing system, issuance of the National Identification Card (NIC) and paperless port operation, among others.