Ghana: Kwadwo Poku Writes On Rising Fuel Prices And Cedis Depreciation
The Executive Director of the Institute for Energy Policies Research (INSTEPR) in the Republic of Ghana, Kwadwo Nsafoah Poku, has expressed worry about the continuous depreciation of the Ghanaian cedi which is pushing prices of diesel and petrol upwards barely every two weeks in the Republic of Ghana.
Although crude oil prices have been hovering below $95 per barrel on the international market over the last month, the continuous depreciation of the Ghanaian cedi has pushed a litre of diesel to Gh15.99 and petrol at Gh¢13.10 per litre.
Sharing his opinion about the rising fuel prices and the continuous depreciation of the Ghanaian cedi against the major international currencies, Mr. Kwadwo Poku wrote: “We started the week with Gh10.45 to $$ on Monday. By Friday evening, some people were quoting GHc15 to $$. This means the cedi lost 1 cedi value daily. This situation is unprecedented. As I drove home on Friday from a meeting, I got the news that the oil companies are having difficulty pricing their products because they don’t know what forward $$ rate to use.
“I don’t want to scare you, but based on what happened last week, the fuel price will be Ghc20 cedis in the next window. If PURC is to review electricity, we will all have to pay 2x what we are paying today because in the last review they used Ghc7.45 to $$.
“If nothing is done to reverse the cedi from depreciating further, we will start Monday at Ghc15.42 cedis to $$. Do not let anyone tell you it’s speculation and not real. If the banks and Bank of Ghana have $$ for the oil companies, they will not go to the black market to buy the expensive speculated price,” he said.
Below is Kwadwo Poku’s piece
CAN WE SURVIVE ANOTHER WEEK LIKE THE LAST?
Most Ghanaians went through last week as if it was an ordinary week. Some people discussed the economic situation as usual at work, in the trotro and at the evening hang out. Seeing fuel price at Ghc15.99 was hard for everyone but as steadfast as we are, we took it in our strides.
We started the week with Gh10.45 to $$ on Monday. By Friday evening some people were quoting GHc15 to $$. This means the cedi lost 1 cedis value daily. This situation is unprecedented. As I drove home on Friday from a meeting, I got the news that the oil companies are having difficulty pricing their products because they don’t know what forward $$ rate to use.
I don’t want to scare you, but based on what has happened last week, fuel price will be Ghc 20 cedis in the next window. If PURC is to review electricity, we will all have to pay 2x what we are paying today because last review they used Ghc7.45 to $$.
If nothing is done to reverse the cedis from depreciating further, we will start Monday at Ghc15.42 cedis to $$. Do not let anyone tell you its speculation and not real. If the banks and Bank of Ghana has $$ for the oil companies, they will not go to the black market to buy the expensive speculated price.
Do you think we can go through this week losing 1 cedis a day as we did last week?? It’s not about God so let’s not say let’s pray.
The Banks, BDCs, OMC will not survive another week if what happened last week repeats itself. This scenario will translate differently to all of us. We can only survive this week to the next if something changes.
What is that change? Am only the energy expert.
Thanks
Kwadwo Nsafoah Poku
Director of INSTEPR
South Africa: African Energy Week Drives Energy Transition Discussion From Cape To Cairo
With the next COP27 set to be hosted in Africa and under a different scenario to previous editions – oil, gas and nuclear has returned to the scene as crucial for global energy security and for ensuring stable economic growth – a ministerial panel discussion during African Energy Week (AEW) 2022 emphasized the need for a unified message regarding the energy transition, one that will be taken from AEW in Cape Town to COP27 in Egypt.
Moderated by Mohamed Fouad, Founder and CEO, Egypt Oil & Gas, high-level speakers included H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbon, Equatorial Guinea; H.E. Sophie Gladima, Minister of Petroleum and Energies, Senegal; H.E Mahamane Sani Mahamadou, Minister, Ministry of Petroleum of Niger; NJ Ayuk, Executive Chairman, African Energy Chamber; and Hon. Dr. Matthew Opoku Prempeh, Minister for Energy, Republic of Ghana.
Kicking off the session, H.E Tarek El-Molla, Minister of Petroleum and Mineral Resources, Egypt delivered a keynote presentation, stating that, “This year, COP27 represents an opportunity to articulate Africa’s priorities to reducing emissions, accessing appropriate funding and addressing climate repercussions. We cannot deny that oil and gas represent an essential resource globally and will remain part of the energy mix for the long term. Our goal is to provide these resources more responsibly. I am optimistic about the Egyptian and African efforts to collaborate on a just energy transition in Africa.”
Thereafter, the panel discussion kicked off to an electric start, with speakers emphasizing the need to face COP27 with common positions on how the energy transition should look like for the continent in the near future in order to improve intra-continental cooperation and investment with the goal of eliminating energy poverty. During the discussion, insight was given as to whether an African just energy transition can be compatible with a global energy transition and whether or not the continent will be able to speak with one voice at COP27.
“Every single Minister of oil and gas in Africa finally speaks with the same voice. It will be very important if we have a united voice. We have worked with APPO and the AU and the parties going to Egypt. In Egypt, they will hear loud and clear our position on the energy transition and regarding energy security, those are our priorities,” stated H.E. Minister Lima, adding that, “We should be talking about energy security. Once we achieve this, then we should start talking about energy transition.”
Expanding on what H.E. Minister Lima shared, H.E. Minister Gladima stated that, “I think that during this week we have discussed at length the future of Africa. The main issue that we all agree on is funding. Funding has been cut, and even though we have a gas-to-power strategy, the funding continues to be cut. This planet has given us natural resources and we have to exploit them. But we need to exploit them in a responsible manner and ensure that we do not make the same mistakes others have done in the past. Let us use our oil and gas and have the chance to grow. Ministers of energy must go and convince the ministers of environment. We need to decide together and find a way that is for the good of Africa.”
Meanwhile, panelists discussed what priorities need to be established for the continent and what a victory in Egypt would look like for Africa.
“I do not want to talk in terms of victory, but in terms of responsibility and rights. I will be an irresponsible leader to sell my country on the altar of energy transition without talking about the significance of energy security or energy access or without talking about energy affordability. The ministers of energy have been meeting, building and developing a consensus. We should not allow ourselves to be divided between environment and development,” stated Ghana’s Minister for Energy Dr. Matthew Opoku Prempeh, adding that, “We are going to COP to tell everyone our responsibility as leaders. First, to the people who elected us and who we have accepted to govern. If we talk about the energy transition, we will talk about using what God has given us to use. We will continue to exploit our reserves for the socioeconomic development of the country.”
Thereafter, the conversation shifted to the role and position of international oil companies (IOC), with H.E. Minister Mahamadou stating “When it comes to IOCs, the same way that African countries and ministers have to stay united and speak with one voice, IOCs have to join that single narrative that we share. When it comes to Niger, we have three IOCs active, so we are working closely with them to ensure the full potential of the oil and gas is exploited,” adding that, “When it comes to the environment, in Niger, 80% of the population lives in rural areas. They rely on biomass and have to do damage to the environment. The way we proceed is we provide them with access to clean cooking and prevent the damage being done to the environment.”
Finally, the need for a consolidated message was further emphasized, with Ayuk stating that, “Drill baby drill: that should be Africa’s message to the world. If you want to solve energy poverty, gas baby gas. Europe wants to call gas green: it has always been green. If it is green gas for Europe, why is it not green gas for Africa? We can do better if we tone down the rhetoric that energy producers are evil people or bad people. We need to go to COP27, backing up our energy producers. We should not be apologizing for our energy sector. That is the message we should
Source: https://energynewsafrica.com
Ghana: Ghana Gas Cuts Sod To Build Multi-Purpose Community Center For Kpalbe
The Ghana National Gas Company (GNGC) has cut sod for the construction of a multi-purpose community center at Kpalbe in the North East Gonja District of the Savannah Region.
The community center, which formed part of the company’s Corporate Social Responsibility, will feature a seating capacity of 130 people, restrooms and a borehole to serve the community.
Speaking at the ceremony, Nana Owusu Ansah Ababio, Board Member of Ghana Gas, said the company’s community development initiatives do not benefit only the project-affected communities but also other underprivileged communities across the country that require the company’s aid.
He also stated that when the multi-purpose community center is completed, it would have a great impact on the town. He, thus, pleaded with residents to take excellent care of the project once it is completed.
Mr Francis Augustus Badu, Manager, Community Relations and CSR, reiterated that Ghana Gas would continue to support underprivileged communities throughout the country through corporate social responsibility (CSR) programmes.
Alhassan Abdallah Iddi, Member of Parliament for North Salaga Constituency, was happy that Ghana Gas had sent such a project to his region because it would be of great importance to the people and nearby towns when completed.
Mohammed Musah Tindawu, District Chief Executive of North East Gonja District, assured Ghana Gas that he would do everything in his ability to ensure that the project was built successfully and adequately maintained after completion.
Source: https://energynewsafrica.com
Mr Francis Augustus Badu, Manager, Community Relations and CSR, reiterated that Ghana Gas would continue to support underprivileged communities throughout the country through corporate social responsibility (CSR) programmes.
Alhassan Abdallah Iddi, Member of Parliament for North Salaga Constituency, was happy that Ghana Gas had sent such a project to his region because it would be of great importance to the people and nearby towns when completed.
Mohammed Musah Tindawu, District Chief Executive of North East Gonja District, assured Ghana Gas that he would do everything in his ability to ensure that the project was built successfully and adequately maintained after completion.
Source: https://energynewsafrica.com Ghana: CEO Of Petrosol Charges Youth To Pursue Career In Energy…Says Job Opportunities Abound
The Chief Executive Officer of PETROSOL Ghana Ltd, one of the indigenous oil marketing companies in the Republic of Ghana, Michael Bozumbil, has indicated that job opportunities abound in Africa’s energy sector.
He has, therefore, charged the youth to prepare themselves to take advantage of them.
According to Mr Bozumbil, “The energy sector is changing in form but not in substance.”
In this regard, he said the world would always need energy and that it is the type of energy that might change from time.
He went further to encourage those desiring to build careers in the energy sector not to be frightened by the news about energy transition and end up staying away from pursuing careers in the energy sector.
He encouraged the youth to develop an even greater interest in the sector because of its enormous growth potential.
Mr Bozumbil was addressing the youth, mostly students of tertiary institutions at the China Europe International Business School (CEIBS) in Accra during this year’s Energy Career Seminar, organised by the Energy Quest Foundation, to create awareness and interest in the energy sector among the youth.
The theme for this year’s event, which was the second edition, was: ‘Energy Career Planning and Opportunity’.
According to Mr Bozumbil, with over 40 per cent of Africa’s population not having access to electricity, it presents itself as a great energy market with enormous investment and job creation opportunities for the youth of Africa.
This is particularly so because Africa is a continent with abundant energy sources, including renewable energy.
He, thus, entreated the youth to view discussions about energy transition as great news and deploy their creative abilities in addressing the energy needs of Africa to make it a better continent to live in.
He again indicated that even with the advent of electric vehicles, fossil fuels or petroleum products would continue to form a major part of the energy mix of Africa over the next three decades.
He, therefore, asked the youth who would be working in the petroleum sector to have an energy industry-wide mindset and build transferable skills that would enable them to transit well into the emerging energy segments.
Mr Bozumbil went further to educate the youth to appreciate that the energy industry is not restricted to engineers or technicians but demands varied expertise including finance, health and safety, human resource, logistics,
economics, among others and thus urged the youth to look out for such opportunities.
He encouraged them to be ready to start at the base by taking up low-level jobs and learning the rudiments to build the required capacity for enduring careers.
Mr Bozumbil said PETROSOL, which is a leading ISO-certified privately-owned Ghanaian oil marketing company has, over the years, provided opportunities for young graduates of tertiary institutions to be trained, absorbed as staff and provided on-the-job coaching and most of them are performing excellently leading to the growth of the business.
He, therefore, said PETROSOL’s doors are always open to provide such opportunities for the youth provided they possessed PETROSOL’s core values and the required work ethics as well as are ready to humble themselves and go through fieldwork.
An internship opportunity was given to three participants who arrived on time at the event.
Ghana: Shocking: Diesel Price Hits Almost Gh¢20, Petrol Gh¢17.54
Fuel prices have shot up significantly in the Republic of Ghana with diesel also selling 20 cedis per litre, energynewsafrica.com. can report.
As of Wednesday, October 26, 2022, Petrosol and Engen have all adjusted their pump prices.
Engen adjusted its pump price of Super (petrol) to Gh¢17.54(US$1.21) with diesel selling Gh¢19.94(US$1.38) per litre.
Petrosol one of the indigenous oil marketing company has also adjusted its pump price for petrol to Gh¢17.48 (US$1.21) per litre while diesel is sold at Gh¢19.89(US$1.37) per litre.
Pacific adjusted diesel price to Gh¢19.87 per litre
More details soon.
Source: https://energynewsafrica.com
Petrosol one of the indigenous oil marketing company has also adjusted its pump price for petrol to Gh¢17.48 (US$1.21) per litre while diesel is sold at Gh¢19.89(US$1.37) per litre.
Pacific adjusted diesel price to Gh¢19.87 per litre
More details soon.
Source: https://energynewsafrica.com Ghana: VRA Hints Of Water Spillage From Akosombo And Kpong Dams
Ghana’s state’s largest power generation company, Volta River Authority (VRA), has hinted that it will commence controlled spillage of water from the Akosombo and Kpong Dams in the next few days.
The move is due to the consistent rainfall and consequent rise in the level of water in the Akosombo reservoir.
“As of Tuesday, October 25, 2022, the reservoir elevation stood at 273.70 feet and is expected to reach the maximum operating level of 276 feet in the next week or two if the current rate of inflow continues,” a statement issued by the Corporate Affairs & External Relations Unit of VRA said.
According to VRA, it has duly notified its stakeholders of the intended spillage in line with its Emergency Preparedness Plan and Standard Operating Procedures.
The Authority cautioned residents, especially farmers along the Volta River and downstream of the dams, to be on high alert.
“The VRA will continue to monitor the situation, work with our key stakeholders and issue regular updates to ensure a prompt response to any emergency that may arise,” VRA said.
Source: https://energynewsafrica.com
Energy Bill Help For All Is Too Expensive, Warns The World Bank
It is too expensive for governments to help everyone with their soaring energy bills, the World Bank has warned.
The bank’s president said Covid support schemes had not been targeted enough towards the most vulnerable and the debt will take decades to pay off.
David Malpass told the BBC the same policy was being adopted to help people cope with rising energy bills.
“Governments are saying we will take care of everyone, which is just too expensive,” he said.
It is pushing global debt to record levels and people at the bottom of the income scale are hardest hit, he said.
It comes as separate research suggests the UK’s own energy support scheme is far too expensive in its current form.
The government is limiting average bills for households using a typical amount of energy to £2,500 a year for six months, but will review the support offered from April.
The National Institute of Economic and Social Research said the current scheme could cost some £30bn because it was untargeted.
It also said households could save up to £20bn per year if they were incentivised to invest in energy-saving measures like solar panels.
During the pandemic governments borrowed billions of pounds to get through lockdowns.
They paid for job retention schemes like furlough, increased benefit payments and loans and grants for business that were forced to close.
Mr Malpass told the BBC’s World Service there was an accepted economic view that there should be a social safety net, some protection for people during a crisis.
The subsidies should be temporary and targeted to those who need them most, he said.
But Mr Malpass said many of the Covid subsidies were not targeted. “They went to everyone…and now the consequences are coming home.
“People will be left for years and even decades paying for that debt,” he added.
The Institute of International Finance reports that global debt topped $305 trillion earlier in the year and is expected to increase further.
The war in Ukraine is causing energy prices to spike. Across Europe, governments have introduced energy subsidies to help households pay for rising prices.
The World Bank expects energy prices to decline by 11% next year after a 60% surge this year, following Russia’s invasion of Ukraine.
In its latest Commodity Markets Outlook, the bank predicted an average Brent crude oil price of $92 per barrel next year. However, that is still well above the five-year average of $60.
The energy crisis comes at a time when governments have already run up large amounts of debt.
Mr. Malpass said he was concerned that the additional help for people will push inflation – the measure of rising prices – even higher.
In the UK inflation is at a 40-year high of 10.1%.
The International Monetary Fund expects global inflation to peak this year at 9.5% and says it will not begin to fall until 2024. It’s causing many low income countries to default on loan repayments and pushing vulnerable people into poverty.
Source:BBC
Europe Now Has So Much Natural Gas That Prices Just Dipped Below Zero
Europe has more natural gas than it knows what to do with. So much, in fact, that spot prices briefly went negative earlier this week.
For months, officials have warned of an energy crisis this winter as Russia — once the region’s biggest supplier of natural gas — slashed supplies in retaliation for sanctions Europe imposed over its invasion of Ukraine.
Now, EU gas storage facilities are close to full, tankers carrying liquefied natural gas (LNG) are lining up at ports, unable to unload their cargoes, and prices are tumbling.
The price of benchmark European natural gas futures has dropped 20% since last Thursday, and by more than 70% since hitting a record high in late August.
On Monday, Dutch gas spot prices for delivery within an hour—which reflect real time European market conditions — dipped below €0, according to data from the Intercontinental Exchange.
Prices turned negative because of an “oversupplied grid,” Tomas Marzec-Manser, head of gas analytics at the Independent Commodity Intelligence Services (ICIS), told CNN Business.
It is a hugely surprising turn of events for Europe, where households and businesses have been clobbered by eye-watering rises in the price of one of its most important energy sources over the past year.
Massimo Di Odoardo, vice president of gas and LNG research at Wood Mackenzie, says unseasonably mild weather is largely responsible for the dramatic change in fortune.
“In countries like Italy, Spain, France, we’re seeing temperatures and [gas] consumption closer to August and early September [levels],” he told CNN Business. “Even in countries in the Nordics, the UK and Germany, consumption is way below the average for this time of the year,” he added.
The European Union has also built substantial buffers against any further supply cuts by filling gas storage facilities close to capacity. Stores are now almost 94% full, according to data from Gas Infrastructure Europe. That’s well above the 80% target the bloc set countries to reach by November.
Source:CNN
Ghana: More Pains For Ghanaians As Transport Operators Announce 19% Increment In Fares
Transport operators in the Republic of Ghana have announced a 19 per cent increment in transport fares effective, Saturday, 29th October, 2022.
This means that passengers would be paying more for transport amid rising food prices, both of which have triggered groanings among Ghanaians on social media platforms.
The new transport fares come after the Transport Unions met with President Akufo-Addo over an earlier intention to increase fares by 40 per cent.
The latest increase, according to the GPRTU, has become necessary according to the union due to the continuous hike in fuel prices.
Currently, a litre of diesel is sold at Gh15.99 while petrol is sold at Gh¢13.10 per litre.
Source: https://energynewsafrica.com
Ghana: Only Few Areas In Tema Metropolis Will Experience Blackout -ECG
Part of Tema metropolis will on the night of Wednesday, October 26, 2022 from 7pm to 12am experience total blackout.
The blackout is to allow the Tema Traditional Council perform some rituals as part of the final funeral rites of the late overlord of Tema, Nii Adjei Kraku II.
He died in February 2020.
“Residents are advised to stay indoors during the period, classified as a scared night,” Nii Tetteh Tsuru Orkoor III, Tema Ashaman Akwashongtse (Custodian) reportedly said when the Tema Traditional Council performed some ancestral customs as part of the activities for the final funeral rites of the late chief.
There were reports that Tema, Ashaiman and other surrounding towns will experience total blackout on Wednesday night from 7pm to 12am.
However, when energynewsafrica.com contacted the Tema Regional Manager for ECG, Ing. Emmanuel Akinie explained that his outfit received a request from the Tema Traditional Council asking for power outage in areas under the Tema Traditional Council.
He said his outfit is still in discussion with the Traditional Council over their request.
He told this portal his outfit will try and reduce the impact of the outage adding that the outage will be restricted to Tema Newtown and areas along the coast of Tema.
According to him, Ashaiman will not be part.
Source: https://energynewsafrica.com
QatarEnergy Chief Says Oil And Gas Trade Should Be Depoliticized
The Head of QatarEnergy, Saad al-Kaabi, said on Monday all oil and gas trade should be depoliticized, calling for policies to move away from sanctions and anti-free market agreements.
The comments by Kaabi, who is also Qatar’s minister of state for energy, come ahead of a Gas Exporting Countries Forum (GECF) meeting in Egypt and echo the views of many industry players who fear a G7 price cap on Russian oil could paralyse the trade worldwide.
“The State of Qatar and QatarEnergy urge all governments and multilateral institutions to craft policies which depoliticize the exchange of fuel commodities in the form of sanctions or anti-free market agreements,” Kaabi said in a statement.
QatarEnergy is one of the world’s top liqueified natural gas (LNG) exporters.
The Group of Seven countries agreed last month to cap Russian oil sales at an enforced low price by Dec. 5. The European Commission also last week proposed its latest set of emergency measures to tackle high energy prices, but steered clear of an immediate cap on gas prices as EU countries remain split over the idea.
More than 15 EU countries, including Italy, Poland, Greece and Belgium, have called for an EU gas price cap, but disagree on its design. Germany and the Netherlands warn capping gas prices could leave countries struggling to attract fuel from global markets during a winter with scarce Russian supply.
Kaabi also said governments should condemn, “the sabotage and military attacks on energy infrastructure or power grids.”
Russia stepped up its aerial attacks on Ukraine this month with missiles and drones targeting major cities and energy infrastructure.
Ukraine’s energy minister has said at least half of Ukraine’s thermal generation capacity was hit.
Source: Reuters
Ghana Achieves 88.50% Electricity Access
Ghana has extended electricity access to almost 90 per cent of her population, energynewsafrica.com can report.
As of December 2016, the country’s electricity access was hovering around 79.3 per cent.
It, however, declined to 79 per cent in 2017.
Interestingly, from 2018 to date, the number of people who have access to electricity has increased.
Speaking at the just ended African Energy Week 2022 in Cape Town, South Africa, Ghana’s Minister for Energy, Dr Matthew Opoku Prempeh revealed that current data shows that people with access to electricity in Ghana has reached 88.50 per cent.
“Ghana stands as a beacon for the continent with an energy access of 88.50% and is ready to lead the West African region to become the energy hub for providing reliable and sustainable energy to stimulate socio-economic growth,” he said.
With the current figure, it means the Akufo-Addo administration has increased electricity access by 9.3 per cent over the last five years.
President Akufo-Addo has pledged his commitment to ensure that Ghana achieves universal access to electricity by the time he leaves office.
Source: https://energynewsafrica.com
Source: https://energynewsafrica.com Togo: ECOWAS Bank Gives GRIDCo US$60M Loan To Upgrade Transmission Lines In Ghana
The ECOWAS Bank for Investment and Development (EBID) has signed an agreement to extend a loan facility of US$60 million to Ghana’s power transmission company, GRIDCo.
The purpose of the facility is to finance the installation and upgrading of transmission lines in Ghana.
The signing ceremony of the agreement took place on 18th October 2022, at the head office of the bank in Lome, Togo.
The President and Chairman of the Board of Directors of the ECOWAS Bank for Investment and Development (EBID), Dr George Agyekum Donkor signed on behalf of the bank while the CEO of GRIDco, Ing Ebenezer Kofi Essienyi signed on behalf of his outfit.
Dr. Donkor said as ECOWAS member states work towards post-COVID-19 economic recovery, it would be necessary to also expand regional electricity connectivity to accommodate growth.
In this regard, he stressed the need for the expansion of electricity infrastructure in the sub-region as a key sector that must be given the necessary attention.
Mr Donkor disclosed that the bank’s total commitment to Ghana stood at US$250 million as of 12th October 2022.
He reiterated the bank’s commitment to continue to finance infrastructure projects across all sectors of the economies of ECOWAS states to accelerate recovery and development for the region.
The President of EBID observed that the project was in line with the bank’s strategic objectives and aligned perfectly with Ghana’s agenda for ‘Jobs II’.
For his part, the Chairman of the Board of Directors of GRIDCo, Ambassador Kabral Blay-Amihere said that the projects to be undertaken with EBID’s facility were part of a broader plan of GRIDCo to upgrade and install infrastructure to continue to improve efficiency and increase the transmission of power within Ghana and other West African counties such as Togo, Benin, Burkina Faso, Mali and Cote D’Ivoire.
While appreciating the confidence reposed in GRIDCo by EBID, he stated that the completion of the project would lead to the strengthening and expansion of the transmission network, reducing technical losses and enhancing businesses and livelihoods in Ghana and the ECOWAS subregion.
Ambassador Blay-Ahimere commended the President of EBID and his team for their dedication and professionalism that saw the expeditious completion of the credit process and the consummation of the transaction.
Present at the ceremony were Ghana’s ambassador to Togo, Kofi Dementia, Executives from C-Energy Ghana, and the Managing Director of Calbank PLC., Philip Owiredu.
Source: https://energynewsafrica.com