The African Development Bank, the Korean Ministry of Economy and Finance and the Export-Import Bank of Korea have signed an agreement, under which Korea will provide $600 million in co-financing for energy projects alongside the African Development Bank.
The Korea-Africa Energy Investment Framework (KAEIF) pact follows the signing on 28 May 2021 of a General Cooperation Agreement between the Bank and the Korean government.
The KAEIF has a particular focus on renewable energy solutions in Africa, including generation, transmission, distribution, off-grid- and mini-grid, policy & regulatory reform, energy efficiency and clean cooking projects.
“The KAEIF demonstrates the close cooperation between the African Development Bank and the Republic of Korea on the development of Africa’s energy sector. KAEIF will provide much needed additional funding, to supplement the Bank’s financing, to support accelerated energy access and the continent’s just transition to clean energy,” said Dr. Kevin Kariuki, the African Development Bank’s Vice President for Power, Energy, Climate and Green Growth.
The Korean Ministry of Economy and Finance stressed that “similar to how the Korean Government prioritized the Green New Deal as its latest growth engine in the post COVID-19 landscape, the Facility is expected to help African countries transition to green energy while simultaneously improving access to energy.”
KAEIF funds will also support project preparation, capacity building and knowledge-sharing activities through the Korea-Africa Economic Cooperation (KOAFEC) Trust Fund. Korea joined the African Development Fund and the Bank’s Capital in 1980 and 1982, respectively.
In 2013, the Korean government set up KOAFEC as a conduit for contributions to multi-donor and special funds managed by the Bank.
Source:www.energynewsafrica.com
The Ibadan Electricity Distribution Company (IBEDC) in the Federal Republic of Nigeria has distanced itself from the sale and installation of defunct Unistar prepaid meters.
According to IBEDC, it has stopped the sale of Unistar prepaid meters to customers since 2014 in compliance with the directive of the Nigeria Electricity Regulatory Commission (NERC).
The reaction of IBEDC follows reports of activities of unscrupulous agents operating within IBEDC’s franchise area selling and installing Unistar prepaid meters to unsuspecting customers.
In a statement, Management of IBEDC explained that it no longer sells Unistar prepaid meters, hence, any customer who purchased the Unistar meter after 2014 did not buy it from them neither do such customers pay for electricity they consume on those meters to IBEDC whenever they vend.
According to IBEDC, Unistar Hi-Tech Systems Limited, manufacturer’s of the meters recently issued a disclaimer that it has discontinued the production and the sale of such meters since 2014 in line with the NERC’s directive.
IBEDC explained that the Association of the Electrical Installer of Nigeria (AEIPON) which has continued to promote the sale and installation of the Unistar meter is not in anyway affiliated to them, nor does it represent the interest of the company.
IBEDC recalled that the same Association in 2017, took them to court, praying the court to compel the company to absorb the illegally sold and installed Unistar meters for some of IBEDC customers at Osun State. However, the court also held that because the meters were installed in IBEDC’s network illegally, it constitutes economic sabotage.
Despite the judgment of the Federal High Court, the Association of the Electrical Installer of Nigeria (AEIPON) in 2020, through a legal firm N.O. Folorunsho & CO wrote a letter, contesting IBEDC’s rights to disconnect illicit meters within its network and requested to install Unistar meters to customers.
“Our Legal Department in response to the letter, reinstated the court’s ruling in the case referenced above and declined the association’s request to install Unistar meters for customers within our franchise.
“This act largely is capable of misleading our esteemed customers and portraying the company as an organisation that does not have regards for the rule of law,” IBEDC noted.
Speaking about this development, the Chief Operating Officer (COO) of IBEDC, Engr. John Ayodele said IBEDC, as a customer centric organisation, is committed to metering all its customers though the current National Mass Metering Programme (NMMP) approved by the Federal Government of Nigeria.
He appealed to customers to be more cautious and not fall into the hands of fraudsters who parade themselves as narketers, selling and installing illicit meters not recognised by the company or approved by NERC.
‘’From the 105,000 meters allocated to IBEDC under Phase zero of NMMP, we have metered over 69,000 of our customers while we continue to give free meters to customers within our network as the next phase of the program kicks off soon. Do not pay anyone for meter or installation’’ Engr. Ayodele explained.
He also advised customers or stakeholders that want meters to visit any IBEDC office closest to them or call our customer Care line 07001239999, for more information and clarification visit www.ibedc.com.
Source:www.energynewsafrica.com
Power Minister R K Singh has said that as much as USD 70 billion (about Rs 5.2 lakh crore) has been invested in renewable energy across the country in the past seven years. This assumes significance in view of India’s ambitious target of having 175 gigawatts (GW) of renewable energy by 2022.
Singh was addressing at an event on ‘Accelerating Citizen Centric Energy Transition’ yesterday evening, organised by The Ministry of New and Renewable Energy (MNRE). It was conducted in collaboration with the Permanent Mission of India (PMI) to the United Nations and the Council on Energy, Environment and Water (CEEW).
The virtual event was organised on the sidelines of the Ministerial Thematic Forums week (June 21-25) for the UN High Level Dialogue on Energy to be convened on September 20 this year.
India has been designated a Global Champion for Energy Transition, one of the five themes at the dialogue.
Singh said, “During the past seven years, over USD 70 billion investment has been made in renewable energy in India. India has a liberal foreign investment policy for renewables allowing 100 per cent FDI through the automatic route in sector.”
He added that ensuring ‘ease of doing business’ is the government’s utmost priority. “Our continuous focus is on maintaining sanctity of contracts and safeguarding investments.”
The minister also talked about the establishment of dedicated project development cells (PDC) and foreign direct investment (FDI) cells in all ministries for handholding and facilitating domestic and foreign investors.
Adequate measures and safeguards have also been undertaken to address the concerns of businesses and investors arising out of the COVID-19 pandemic, Singh added.
He launched a booklet on ‘The India Story’, a compilation of Indian initiatives that are shaping India’s energy transition.
The minister said ‘The India Story’ booklet captures the essence of some of the flagship initiatives that have accelerated energy transition.
“These will continue to power our ambitious renewable energy programmes, with the end goal of ensuring access to affordable, reliable, sustainable and modern energy for all, while always keeping the citizen at the center of this transition,” he added.
He also launched a website (www.energytransition.in), which will act as a repository of energy transition related knowledge resources from around the world.
Singh further said a Renewable Energy Investment Promotion and Facilitation Board (REIPFB) portal has also been developed to provide a one-stop assistance and facilitation to the industry and investors for development of projects and bringing new investment to the renewable energy sector in India.
He lauded the commitment shown by the Indian industry to India’s energy transition plans.
Several members from the industry have voluntarily declared RE goals and committed to the carbon disclosure project (CDP), renewable 100 per cent and science-based targets (SBTs).
Many of them are also preparing substantive energy compacts for the September Dialogue.
By: Yusuff Wale, Managing Director, Wärtsilä Marine & Power Services Nigeria Ltd
On 28 May 2021, Nigeria’s national power generation dropped to 3,059 MW and for the subsequent seven days remained below 4,000 MW, six per cent below average production. Low pressure on the Escravos-Lagos Pipeline System (ELPS) left several gas turbine power plants with insufficient gas supply, leading to plant shutdowns and widespread power blackouts.
Unlike gas turbine power plants, gas engine power plants have the flexibility to function during low gas pressure events. This flexibility significantly lowers power production risk, a supreme advantage in context of gas supply disruptions and systemic power shortages.
Power cuts in Nigeria are a regular occurrence. Data from the Transmission Company of Nigeria (TCN) shows that from 2013 to 2020, the national grid system failed 84 times and partially collapsed 43 times. The World Bank data on countries with the most electricity outages in Africa showed that in 2019, Nigeria suffered outages for 191 days out of 365. The economic cost of power shortages in the country is estimated at around $28 billion annually – equivalent to two per cent of its Gross Domestic Product.
Power plants suffer from disrupted gas supply
Gas is used to fuel more than 80% of power generation capacity, in Nigeria that has the largest gas reserves in Africa. Despite major progress achieved over the past years, gas infrastructures development and maintenance remain insufficient, and this situation combined with infrastructure sabotage results in the country suffering from insufficient pipeline capacity and a lack of pipeline connections. The condition of the gas transmission and distribution system is a major constraint as domestic supply shortages and insufficient pressure severely affect the reliability of the power supply.
What does this mean in practice?
Trunk pipelines like the ELPS require sufficient volumes of natural gas to be fed into the system within a specified pressure range to ensure that gas is delivered to all consumers along the pipeline as per the contracted quality and quantity. A drop in the volumes leads to a drop in the pressure leading to disruptions between the ELPS and end consumers. In such a scenario, high pressure off-takers such as gas turbine power plants can no longer operate and drop out as consumers, thus freeing up the remaining gas volumes for low pressure off-takers such as reciprocating gas engine power plants which can continue to operate at full rated capacity.
Workable solutions adapted to fluctuating fuel supply and load
The flexible power plants, made up of multiple engine modules which can be turned-down or fired-up instantaneously, offer a large range in power supply availability. In addition to being robust and versatile to manage the current generation and transmission side disturbances, they are also the perfect ally of renewable energies since they can adjust output in response to the intermittent nature of the weather.
Engine-based technologies also provide the best response times to effectively adapt to sudden excess or shortfall in electricity production. Furthermore, their modular format means that they can be sized to meet specific requirements, for a city, for manufacturing industries, or for local micro-grids. This makes them easier and faster to install than larger gas turbine plants and facilitates expansion as energy requirements increase.
Gas turbine power plants on the other hand involve a continuous combustion process. They require a constant energy supply to generate consistent output. They are not adapted to operate on a stop-start basis, nor are they designed to cope with the intermittent nature of renewables. To maintain a balanced system, flexible forms of electricity must be available to ramp up output at the same rate that wind or solar output fluctuates. Using small, modular, combustion engines to provide load flexibility enables larger combined cycle plants to provide a stable base load taking advantage of high efficiencies when operating at full capacity and reducing overall energy costs.
Unlocking the full potential of Nigeria’s power sector
The reality today is that Nigeria’s power system faces several challenges, including blackouts, fuel shortages, financing, maintenance, demanding operating conditions and reduced cooling water availability. The size of the gap between the country’s energy needs and its current provision is daunting but not impossible to close.
As the largest economy in Africa, with huge gas reserves and high solar energy potential, Nigeria has all the natural resources necessary to meet the country’s power needs. To realise the full benefits of this potential, flexible engine technology offers a superior solution over gas turbine technology. Increasing access to electricity ranks as one of the major drivers for business growth. Improving power sector performance, particularly for manufacturing and services, will be central to unlocking Nigeria’s economic growth post COVID-19.
The Managing Director of MODEC Production Services Ghana, Theo Ahwireng, has led a delegation to visit Ghana’s Minister for Energy, Dr Matthew Opoku Prempeh.
The purpose of the visit was to formally brief the Minister, who took office barely four months ago, about their role in Ghana’s petroleum upstream sector.
MODEC Production Services Ghana is a subsidiary of Japanese MODEC Inc and has been operating in Ghana since 2010.
The company provides operations and maintenance services on two Floating Production Storage and Offloading (FPSO) named after Ghana’s former presidents: FPSO Kwame Nkrumah (MV21 KNK) and FPSO John Evans Attah Mills (MV25 JEAM), both located offshore in the Western Basin of Ghana.
The Managing Director, in his remarks, noted that Modec Production Services Ghana (MPSG) has a total of 425 employees including 321 Ghanaians, with two of them serving as Assistant Operations Managers for both vessels and another four as Superintendents on both vessels.
The Energy Minister, Dr Matthew Opoku Prempeh, in his remarks, stated that localisation and local content are both very key to him.
He, therefore, called on MODEC to ensure that their activities are fair in order to ensure that capable Ghanaian companies are able to make it onto their vendor list.
“Local content in the oil and gas sector is very important in providing opportunities for Ghanaians and Ghanaian businesses to play significant roles in this sector, and I look forward to its realisation,” he said.
Source:www.energynewsafrica.com
The President of the Republic of Ghana, Nana Akufo-Addo, has sworn into office 39 deputy ministers including three deputies for the West African nation’s Energy Ministry.
The three deputy Energy Ministers are Dr. Mohammed Amin Adam, who also the MP for Karaga Constituency, William Owuraku Aidoo and MP for Afigya Kwabre South and Kofi Egyapa Mercer and MP for Secondi Constituency.
Dr Mohammed Amin served as Deputy Minister for Energy in charge of Petroleum during the first term of President Akufo-Addo while William Owuraku Aidoo served as Deputy Minister for Energy in charge of Power.
It is not clear whether the duo would be made to maintain their previous portfolios.
During the first term of the Akufo-Addo-administration, the Energy Ministry had three deputy ministerial portfolios namely Deputy Minister for Petroleum, Deputy Minister in charge of Power and Deputy Minister in charge of Finance and Infrastructure.
Addressing the deputy ministers after swearing them in, President Akufo-Addo reminded the deputy ministers of the impact of Covid-19 on global economy including Ghana and urged them to seize the opportunity offered them to work hard.
President Akufo-Addo cautioned them that he would not countenance any acts of disloyalty from them towards their Ministers.
“I will not countenance acts of disloyalty or subversion to your Minister, for I will take such act as disloyalty to me personally and to the state and to the party.
“I will want you to work with your Minister in all sincerity and transparency that is best guarantee of your individual success and our collective success,” he said.
Source: www.energynewsafrica.com
Ugandan President Yoweri Museveni has appointed a new Minister of Energy & Mineral Development in a cabinet reshuffle.
The newly sworn-in Minister of Energy and Mineral Development, Ruth Nankabirwa, replaces Mary Kitutu.
Kitutu was appointed Minister for Karamoja Affairs. President Museveni is six months into his new tenure as
President after winning a tightly contested election.
Before her appointment, Nankabirwa was a Chief Whip and a past Minister of Defence.
Sidronius Okasai has been appointed as Deputy Minister of State for Energy & Minerals.
Nankabirwa, a strong supporter of President Museveni and a Member of Parliament for Kiboga district, lost her seat in the last election.
Source:www.energynewsafrica.com
Ghana’s Minister for Energy, Dr. Matthew Opoku Prempeh, is expected to lead a delegation of government officials and business owners to this year’s Offshore Technology Conference (OTC) in Houston, Taxes, USA, from 16-19 August.
The Offshore Technology Conference (OTC) is where energy professionals around the world meet to exchange ideas and opinions to advance scientific and technical knowledge for offshore resources and environmental matters.
Since 1969, OTC’s flagship conference is held annually at NRG Park (formerly Reliant Park) in Houston.
In 2020, the global event, which usually took place in May, could not come on because of the outbreak of Covid-19 which led to the cancellation of several global events.
Dr. Matthew Opoku Prempeh, who will be attending OTC for the time since assuming office in March this year, would deliver the keynote speech at the West Africa Session of the ‘Around the World’ series to promote FDI into Ghana’s petroleum sector.
He would also open the Ghana Delegation Pavilion at the conference as well as visit and engage private sector investors in Houston, the Energy and Petroleum capital of the world.
OTC 2021 Participation: Delegates Registration, Travel Arrangements, Hotel Accommodation, Ground Transportation, Electronic Brochures etc.
Please Contact:
JUBILEE TOURS
Dr. Emelia Assiakwa
Cell: 0243636770
Email: [email protected]Ghana Delegation Pavillion
Registration, Booth Purchases & Exhibition
Please Contact:
McDAN GROUP
Leonora Appiah
Cell: 024 474 8575
Email: [email protected]
Ghana’s leading indigenous oil marketing company, GOIL, has maintained the 2019 dividend it paid to its shareholders for the year 2020 despite the impact of the Covid-19 pandemic which caused the company’s profit to dip.
The company’s profit, after tax in 2020, was GHC90.03 million, down by 14.5 per cent, compared to that of the previous year.
Consequently, earnings per share also fell by 14.5 per cent.
Despite the fall, Chairman of the Board, Mr Kwamena Bartels said the Board has decided to pay a dividend by the same amount as that of last year which was GHC0.45 per share.
Speaking at the company’s 52nd Annual General Meeting which was held virtually, Mr Kwamena Bartels said GOIL remained committed to its shareholders, hence, the decision to maintain the dividend despite the impact of Covid-19 pandemic on the company’s earnings last year.
Innovation
Mr Bartels said GOIL had put in place initiatives especially in the area of technology to boost its operations.
For instance, he said the company had leveraged on technology to improve its cash collection methods through the use of cashless system by its customers to purchase items at its service stations and other outlets.
“The company leveraged information technology to get our bank accounts credited the following day after cash collections from our stations. The intervention has also helped to reduce stock-outs at the stations because our retail dealers are directly credited with the amounts collected at the stations, right on the following day,” he said.
With regard to electronic transactions, he said GOIL had integrated all its service on GHlink, a national payment platform.
“This means that any GHlink electronic card holder can use card to buy fuel at all our 400 service stations throughout the country,” he said.
GOIL, he noted had also developed a mobile phone application that would allow customers to use QR codes for payment, a move that would eventually phase out the use of cards for payment.
“Whilst reducing physical cash handling, this would further mitigate the risk of transmitting any virus during transactions,” he said.
Source: www.energynewsafrica.com
The Chief Executive Officer of Association of Ghana Industries(AGI), Seth Twum Akwaboah, is urging stakeholders in the West Africa to open their minds to discussions on nuclear power in order for the country to explore the possibility of adding nuclear power to the energy mix.
Delivering an opening speech at a stakeholders’ forum on Ghana’s nuclear efforts in Accra, capital of Ghana, he said the challenge of striking a balance between protecting key energy service producers like GRIDCo, VRA and ECG to survive and private operators in the business to remain competitive is crucial for the nation.
Regardless of this challenge, Mr. Akwaboah was of the view that the government has to set price for energy at a lower rate to make other stakeholders in the business competitive just like it is in other parts of Africa.
“Today, I must say that Ghana’s energy cost is one of the highest in Africa. In Ethiopia, I understand it is below five percent per kilowatt. Now, we have Continental Free Trade Agreement; all these countries are competing with Ghana,” he noted.
According to the AGI boss, a recent research indicated that Ghana’s energy cost is one of the highest on the continent.
Seth Twum Akwaboah (Right)
To change the narrative, he said stakeholders must urgently embrace the nuclear discussion and explore it in time to reduce energy cost for Ghanaians.
He further observed that the African Continental Free Trade Agreement makes it even more threatening for Ghana because with the cost of electricity doing business in Ghana becomes uncompetitive as compared to countries like Morocco, Egypt and Kenya.
He advised that the sentiments and apprehensions associated with nuclear power energy should be shelved and rather explore its potentials for competitive advantage as a country.
He opined that the so-called advanced countries have taken the lead in the use of nuclear and they export their goods to Africans to buy to make them even more comfortable.
Ghana’s quest to use nuclear technology for power generation dates back in the 1960’s when the country’s first President, Dr. Kwame Nkrumah established the Ghana Atomic Energy Commission to spearhead the nuclear agenda.
Unfortunately, the idea was stillbirth and abandoned until 2008 when a Cabinet decision to include nuclear in the country’s electricity generation mix was taken to help curb the national perennial power crisis.
The government’s bid to provide a solution to the country’s 10-year cycle of power crisis, coupled with the need for an alternative base-load plant, established a nuclear energy programme implementing and coordination body known as the Ghana Nuclear Power Programme Organisation (GNPPO).
In accordance with the framework advocated by the International Atomic Energy Agency (IAEA) for Nuclear Power Infrastructure Development, GNPPO developed a three-phase roadmap for Ghana’s initiative.
The country has since 2018 established an Owner/Operator entity, the Nuclear Power Ghana (NPG) for its 1st Nuclear Power Plant and has successfully completed the first Phase of the Nuclear Programme.
Source:www.energynewsafrica.com
A lawyer for Mr. Asante Berko, a former Managing Director of Tema Oil Refinery, Ghana, has rejected media reports suggesting that his client was found guilty of paying bribe to Ghanaian officials to facilitate a contract for a Turkish energy company which wanted to build a power plant in Ghana.
According to the lawyer, the client never admitted or denied any wrong doing.
“Mr. Berko recently settled a case with the Securities & Exchange Commission of U.S without admitting or denying the allegations in the SEC’s complaint. Neither the SEC nor the court found Mr. Berko guilty,’’ a statement from Carl H. Loewenson, Jr, a Partner at Morrison & Foerster LLP in New York, USA, said.
Mr. Berko, a former executive of Goldman Sachs was charged by SEC in an April 2020 civil lawsuit with facilitating as much as $4.5 million in bribes to help a Turkish energy company win a contract to build a power plant in Ghana.
He subsequently resigned his position as Managing Director of TOR to contest the claim by SEC.
According to the lawyer, SEC, in their complaint, alleged that Mr Berko had received $2 million as compensation from a Turkish energy company “for arranging the bribery scheme.
“The SEC sought disgorgement of those allegedly “ill-gotten gains,” plus interest, plus a monetary penalty. Even before Mr. Berko responded to SEC’s complaint, SEC agreed to settle for disgorgement of $275,000 (plus interest), with no penalty.
“No one found Mr. Berko guilty. Mr. Berko settled with SEC and the SEC’s case is now closed,’’ the statement concluded.
Source:www.energynewsafrica.com
A former Minister for Power in the Republic of Ghana, Dr Kwabena Donkor has welcomed the government’s decision to probe the termination of the GPGC Emergency Power Agreement which has caused the West African nation a US$170 million judgment debt.
In 2015, Dr Kwabena Donkor, on behalf of the Government of Ghana, signed a five-year Emergency Power Agreement with Ghana Power Generation Company (GPGC) to produce 107MW of electricity.
Per the details of the agreement, Ghana was to provide a site for the plant, fuel for the plant and water which would require the construction of pipelines to the nearest Ghana Water Company Limited’s pipeline for the supply of clean water and sea water for cooling.
Unfortunately, the company could not meet the construction date.
Then upon assumption of office, the current administration reconstituted a committee, which was set up by the previous administration, to look into all the power purchase agreements it had signed.
The committee recommended that PPA of ASG, Chrispod Hydro Power Ltd and GPGC should be terminated because they had not reached financial close.
For their compensation, the committee proposed that ASG should be paid US$17 million for early termination while Chrispod Hydro Power Ltd and GPGC were to be given US$22 million and US$18 million respectively.
Cabinet accepted the recommendations and the three PPAs were terminated.
The Government of Ghana would have paid US$178,404,914.68 on capacity charges alone for a period of four years if GPGC had constructed their plant.
The decision did not settle well with GPGC, which filed a case at the International Court of Arbitration in London and subsequently won the case against the Government of Ghana.
But speaking on Accra-based Joy FM, Dr Donkor said he was ready to face the investigative bodies over the contract he signed on behalf of the Government of Ghana.
“I am a law-abiding Ghanaian. If the CID says they want to investigate something, what do I have to hide?” he quizzed.
He further stated that “I will go to the CID. This is not the first time I have been called to the CID.”
Dr Donkor also questioned the basis under which the agreement was cancelled by the government.
“First of all, when I saw a couple of the termination letter, the basis of termination, the operating phrase was that they had not obtained an energy commission licence. In the agreement, government was obliged to assist them to obtain all licences and permits so if we have that obligation on our path, we don’t turn round and use that as an excuse or a reason to terminate.”
According to him, the Attorney General is hunting for a scapegoat for what he sees as wrongful termination of the contract.
“Other than that, we don’t expect the Attorney General to sit on radio threatening and intimidating. You don’t expect that,” he told Winston Amoah, the host.
He wanted the government to reassess the issue and address concerns raised by the court in London.
The former Minister added that since the recent development ensued, “nobody even asked me for a second that what was the basis for the agreement, why did you sign this or what informed this agreement. Nobody.”
Source:www.energynewsafrica.com
Ghana’s Minister for Energy, Dr Matthew Opoku Prempeh says Ghana is looking forward to having nuclear energy as part of the country’s energy mix.
This, he explained, is because energy from nuclear is clean and also one of the cheapest sources of energy.
“Government envisions an energy future not of either nuclear or renewables, but of nuclear and renewables.
“There is a growing chorus of voices recognising that nuclear energy has an important role in decarbonizing electricity generation for accelerated industrial development,” Dr Matthew Opoku Prempeh observed.
The Minister said this in a speech read for him by Seth Mahu, a Deputy Director at the Ministry of Energy, at a workshop organised by the Association of Ghana Industries (AGI) on Ghana’s Nuclear Power Efforts in Accra.
“While renewable energy sources are expected to continue to grow significantly, nuclear power, an important part of today’s clean energy, is also the largest source of low-carbon electricity generation in advanced economies, providing about 40 percent of all low carbon generation,” Dr. Matthew Opoku Prempeh said.
Quoting an IEA report titled ‘Nuclear Power is a clean energy system’, he said the report reiterated the fact that without nuclear investment, achieving a sustainable energy system would be much harder and would have implications for emissions, costs and energy security in any country.
Ghana’s Energy Minister also emphasised that within Ghana’s power generation circles, issues on consistent demand growth, high tariffs for industries, affordability and resilience criteria have brought to the front burner the issue of an alternative baseload power.
As a measure to augment Ghana’s energy sources in 2007, Ghana’s former President, Agyekum Kufuor set up a committee to explore the possibility of Ghana using nuclear energy as an alternative baseload source of power.
That was in furtherance of Ghana’s first president, Dr. Kwame Nkrumah’s vision of establishing Ghana Atomic Energy Commission (GAEC) to spearhead the establishment of nuclear power plant in the future.
This good initiative, Dr. Opoku Prempeh said was continued by successive governments, leading to the birth of Nuclear Power Ghana (NPG), the owner cum operator of Ghana’s intended first Nuclear Power Plant.
He assured that he would focus on providing relevant resources to build a strong safety culture and resilient management system that adheres to standards in the planning and development of the 19 infrastructural issues and related processes.
Dr. Opoku Prempeh also expressed the believe that the forum focuses on future nuclear energy innovation and future technologies for clean energy and to drive deep decarbonisation of Ghana’s power agenda.
According to him, there are many examples of innovation in the nuclear industry that is already paving the way ahead.
In addition to electricity generation, nuclear energy, he said can provide solution to an even wider range of applications for the country.
Innovative nuclear technologies such as small Medium Rector (SMRs), Dr. Opoku Prempeh explained, would complement existing large reactions to enable deep decarbonisation as part of the clean energy transition.
“Nuclear technologies are equally improving people’s lives in many other ways and are supporting sustainable developments. Medical, industry and agricultural applications of nuclear technologies are used all over the world, including Ghana,” he said.
Ghana’s Energy Minister further stressed that a new nuclear power station does not only generate reliable low-carbon electricity but also provides many wider social and economic benefits both during its development, construction and subsequent 60-year operational phase.
Source: www.energynewsafrica.com
A Hight Court in the Republic of Ghana, West Africa, presided over by Justice Mariama Sammo (MS) has ordered Italian oil and gas firm, ENI and Vitol, to set aside 30 percent of oil proceeds from the Sankofa Field in an escrow account, pending the final determination of an application filed by Springfield E&P, a wholly Ghanaian upstream player.
Springfield E&P filed a suit at Ghana’s Commercial Court ‘3’ Division of the Accra High Court following Eni’s refusal to unitise the Afina oil block held by Springfield E&P and Sankofa Field operated by Eni and Vitol because the two oil blocks are said to straddle.
The two oil companies were directed to unitise the two fields by the Ministry of Energy about a year ago but it has since not happened.
Among the reliefs sought by Springfield was an order directed at the Defendants to comply with the directive issued by the Minister of Energy in the letter of 9th April 2020 and enter into an agreement forewith Plaintiff to produce and develop the accumulation of the petroleum in the Sankofa and Afina fields as a single unit.
The oil firm also wanted the court to direct that “any income, profits and other finds due Plaintiff from Defendant’s exploration and production activities in the Sankofa Fields be paid to the Plaintiff upon account having been taken”.
Eni and Vito are expected to pay an amount approximately $40million a month which will be directed to an account agreed by both parties.
The court’s order takes effect from today.
Commenting on the ruling, Kevin Okyere, CEO and founder of Springfield, described the ruling as a “welcome vindication of Springfield’s position on the issue of unitization and a positive result”. He said that the Company was forced to take the legal route following Eni’s reluctance to follow the Minister of Energy’s directive and for all parties to reach an amicable resolution to this unfortunate impasse.
Kevin added “Springfield is not interested in stalling ongoing crude oil production on the Sankofa Field, and believe in fairness and justice for all, irrespective of their size and position. The consequences of this case for the Ghanaian oil industry will be systemic and immediate”.
Regional oil and gas actors have been under severe pressure following disruptions caused to supply chains in the wake of the Covid-19 pandemic and market changes triggered by the global energy transition. In the light of such unprecedented challenges, Springfield believes Ghana cannot afford to delay development of a flagship project capable of contributing significantly to the State’s coffers and ultimately improve the standard of living of Ghanaians.
Kevin concluded by saying that, “Springfield looks forward to working with Eni as the operator of the unitized field in maximizing the production and the economic benefits for all stakeholders, including the Government and citizens of Ghana”.
RULING (SPRINGFIELD V. ENI & VITOL)Source: energynewsafrica.com
Addressing the deputy ministers after swearing them in, President Akufo-Addo reminded the deputy ministers of the impact of Covid-19 on global economy including Ghana and urged them to seize the opportunity offered them to work hard.
President Akufo-Addo cautioned them that he would not countenance any acts of disloyalty from them towards their Ministers.
“I will not countenance acts of disloyalty or subversion to your Minister, for I will take such act as disloyalty to me personally and to the state and to the party.
“I will want you to work with your Minister in all sincerity and transparency that is best guarantee of your individual success and our collective success,” he said.
Source: www.energynewsafrica.com
Unfortunately, the idea was stillbirth and abandoned until 2008 when a Cabinet decision to include nuclear in the country’s electricity generation mix was taken to help curb the national perennial power crisis.
The government’s bid to provide a solution to the country’s 10-year cycle of power crisis, coupled with the need for an alternative base-load plant, established a nuclear energy programme implementing and coordination body known as the Ghana Nuclear Power Programme Organisation (GNPPO).
In accordance with the framework advocated by the International Atomic Energy Agency (IAEA) for Nuclear Power Infrastructure Development, GNPPO developed a three-phase roadmap for Ghana’s initiative.
The country has since 2018 established an Owner/Operator entity, the Nuclear Power Ghana (NPG) for its 1st Nuclear Power Plant and has successfully completed the first Phase of the Nuclear Programme.
Source:www.energynewsafrica.com
