The Minister of Energy, Mathew Opoku Prempeh, has urged the United States of America to support Africa to embark on its energy transition agenda.
Dr. Opoku Prempeh made the appeal when he met with the United States Deputy Secretary, Department of Energy, David M. Turk, on the sidelines of CERAWeek ongoing in Houston, Texas.
Their discussions revolved around Ghana and USA governments’ cooperation in navigating energy transition and creating pathways for mutual interest in the energy sector.
Dr. Opoku Prempeh assured the Deputy Secretary of Ghana’s eagerness to meet its transition goals, with much emphasis on gas, and used the opportunity to invite investors into the country’s nuclear energy sector.
“Even though the risk in investing in Africa is high, the gains and returns are much higher for any investor. Ghana provides a stable, peaceful and investor-friendly country to guarantee the safety of your investments,” Dr. Opoku Prempeh stressed.
In another development, the Energy Minister earlier this week appealed to foreign investors to consider investing in the Ghana’s energy sector to ensure sustainable power supply in the country. He made the appeal during the Expo 2020 at Dubai in the United Arab Emirates (UAE).
Dr Opoku Prempeh also asked energy business leaders and decision makers to find in Ghana’s energy sector a friend and a partner.
He pointed out that, in Ghana, exploration and production licences are awarded through open, transparent and competitive public tender processes.
The Minister further stated that exploration and production licences may be awarded through direct negotiations without public tender if direct negotiations represent the most efficient manner to achieve optimal exploration, development and production of petroleum resources in a defined area.
“There are also farm-in opportunities in some of the existing licenses for prospective investors to operate through existing Petroleum Agreements, without having to go through block application and negotiation processes,” he said
Touching on the power sector, the Minister said the generation, transmission and distribution value chain presents opportunities to the private sector. He added that it is in that light that “our quest to promote energy efficiency in electrical appliances, among others, within the context of scaling up ten percent renewable energy penetration by 2030 brings key opportunities for strategic investor partnership.”