Ken Ofori-Atta
KEN OFORI-Atta, Minister of Finance, on Monday
inaugurated a government-led Energy Sector Recovery Programme (ESRP) Steering
Committee, comprising members across various sectors and ministries.
The inauguration of the ESRP Steering Committee
is part of the initiation of the collaborative consultation process between government
and each Independent Power Producer (IPP) and Gas Supplier (GS) in an effort to
resolve energy issues in a manner that is sustainable for both Ghana and its
partners.
“The purpose of the steering committee is to
take responsibility for the consultation process with the IPPs and GSs over the
coming months, with the objective of ensuring a sustainable energy partnership
with each IPP and GS,” said Mr. Ofori-Atta.
The inauguration is part of a decision made by
the Energy Sector Recovery Task Force as mandated by Cabinet to ensure and oversee
the implementation of the ESRP. The steering committee is expected to help
implement the ESRP, which identifies key issues in the energy sector and
proposes solutions.
Government, in July this year, announced its
intention to rationalise the commercial agreements in the country’s energy
sector, including re-assessing all take or pay contracts and imposing a
moratorium on the signing of new power purchase agreements in the energy
sector.
“The steering committee is of key importance
for the future of Ghana’s energy sector and Ghana’s long-term sustainable
development,” the Finance Minister noted.
“Government has been working hard to establish
a long-term sustainable strategy for a competitive and dynamic energy sector
where private investments can thrive, and the interests of the Ghanaian people
and businesses continue to flourish,” he added.
Since August 2019, the Ministry of Finance and
the Ministry of Energy have been engaging with IPP and GS representatives in
order to find solutions that result in a fair outcome for all stakeholders –
both the Ghanaian people and investors. And the inclusive composition of the
steering committee is expected to help comprehensively address the issues at
hand.
Ghana’s installed capacity is almost double its
peak demand, with an installed power generation capacity of 5,083 megawatt, a
dependable capacity of 4,593 megawatt and a peak demand of around 2,700 megawatt.
Ghana has an installed power generation
capacity of 5,083 MW, a dependable capacity of 4,593 MW
and a peak demand of around 2,700 MW.
