Ghana government to establish Renewable Energy Investment Fund

The government has announced plans to source funding from domestic and international institutions to establish a Renewable Energy Investment Fund.

Mr John Abu Jinapor, the Minister of Energy and Green Transition, who announced this in a statement on the floor of Parliament on Tuesday, said the Fund would enable the Government to scale up production of clean and renewable energy technologies to reduce the cost of power in the country.

It would also help the nation to reduce dependency on the national electricity grid, he said.

To that end, the Minister said the government would set up a Solar Technology Resource Centre at the Ho Technical University to train and build capacity of students and Ghanaians in developing renewable energy technologies.

Mr Jinapor indicated that with abundant renewable and clean energy sources, it would serve as a catalyst for boosting industrialisation in Ghana.

He said government would like to revolutionise renewable energy technology to boost irrigation, agriculture, and industrialisation across the country.

Mr Frank Annor-Dompreh, the Member of Parliament for Nsawam Adoagyiri, while contributing to the statement, commended the Energy and Green Transition Minister, Mr John Abu Jinapor, for his Ministry’s commitment to continue with some of the previous NPP government’s renewable energy projects.

He was of the belief that adopting the concept of continuity of the past government’s policies would inure to the benefit of the people.

Source: GNA

The post Ghana government to establish Renewable Energy Investment Fund appeared first on Ghana Business News.

Read Full Story