The Government is committed to reaching an installed capacity of 741.3MW of solar energy out of a total of 1,350 MW by the end of 2024.
The present total achievement of solar energy stands at 165MW.
The Deputy Minister for Energy, Mr Herbert Krapa disclosed this at a solar energy event held by the Royal Norwegian Embassy on Wednesday in Accra.
He revealed that the Bui Power Authority is currently developing 200MW of the 250 MW solar park, which is expected to be completed by the end of 2024, and that the Volta River Authority has just completed phase 2 of the Kaleo project, bringing the total installed capacity for solar to 35 megawatts.
“We have also secured a loan facility from the German Government to deliver 22MW of installed solar capacity for public buildings to reduce consumption on the national grid and bring the public sector debt to the power utilities to a manageable level,” he added.
Mr Krapa referred to the country’s renewable energy master plan when addressing investment opportunities for private sector participation in the distributed renewable energy sector, citing the assembly of renewable energy technology products, deployment of smart solar streetlights, solar lanterns, and mini grids in the over 200 islands and 2,000 lakeside communities.
“We have revised the incentives for the renewable energy market which includes tax reductions and exemptions on materials and special components and machineries for the manufacturing of renewable energy technologies; take and pay arrangements for utility scale renewable energy projects and we hope that you will take advantage of this opportunities to invest in Ghana. We have also lifted the temporary suspension of the licenses for renewable energy embedded generation for private or own use which now makes it possible for homes and SME’s industries to invest in captive renewable energy for their own consumption,” he stated.
He assured Ghanaians of the government’s commitment to assisting Ghana on its journey to industrialisation, highlighting value-addition through industrialization and long-term employment development.
The event aims to bring together Norwegian solar energy companies, financiers, legal and sector experts, customers, and government institution representatives to share solutions for the Ghana solar energy market, particularly in the commercial and industrial segments to showcase what they can offer partners and energy users in Ghana.
Irene Wirekoaa Osei, ISD