About Ghana Energy Summit
The Ministry of Energy is organizing the Ghana Energy Summit which is aimed at bringing together local and international business leaders, investors, policy makers, civil society organizations, development partners and industry leaders to exchange ideas and share experiences that would culminate into comprehensive energy sector policies and strategies to effectively govern and ensure coordinated investments and sustained growth of the sector.
The Summit will also discuss investment opportunities available in the sector and provide avenues for targeted and strategy driven investments rather than the current deal driven approaches. Ghana has made tremendous efforts at securing adequate energy for national economic development over the years, both with respect to power and petroleum, driven by a mosaic of policy and institutional reforms.
The Petroleum Downstream subsector has seen a strong regulatory role by the National Petroleum Authority, spearheading the gradual removal of subsidies, liberalization and engendering healthy competition in the sector. The Summit will also discuss investment opportunities available in the sector and provide avenues for targeted and strategy driven investments rather than the current deal driven approaches.
The Petroleum Upstream subsector, although very nascent, has equally witnessed ample progress. Within less than a decade of first oil from the Jubilee field, the country can boasts of two offshore producing fields and a third scheduled to come on stream in the third quarter of 2017. This is supported by a buoyant service industry with great potential for growth.
The Power subsector, on the other hand, although significant progress has been made with respect to shoring up generation capacity, modernizing transmission and distribution infrastructure and increasing citizens access to electricity, the sector is still beset with challenges. These include a huge debt over hang that threatens the survival of the power utilities.
The Ministry is working with stakeholders to address these urgent challenges, including a moratorium on new thermal capacity additions, and exploring more transparent and competitive procurement processes for renewable energy capacity additions.
The Ghana Energy Summit will provide a platform for stimulating discourse among key stakeholders leading to elaboration of practical solutions to the sector challenges. It is envisaged that these prescriptions will find expression in the policies and strategies of the sector and the investment opportunities they present.