LATEST ARTICLES

NACOC Detains Two Energy Commission Officials Over Probe Into Alleged Meth-Laced Charcoal Shipment

Ghana’s Narcotics Control Commission (NACOC) has arrested and detained two officials of the Energy Commission as part of an investigation into a shipment of charcoal allegedly found to have been infused with methamphetamine before being intercepted by Australian authorities, according to sources familiar with the matter. Investigators believe the two officials may have information relevant to the approval process and the circumstances surrounding the export, prompting their detention for questioning, the sources said. The identities of the two officials were not immediately available. However, they are understood to be members of the Energy Commission’s Renewable Energy Unit stationed at the Port of Tema. The Executive Secretary of the Energy Commission, Adwoa Serwaa Bondzie, confirmed the arrests to staff and urged them to remain calm, according to an internal communication seen by this publication. The Energy Commission is Ghana’s technical regulator for the electricity and natural gas sectors and is responsible for issuing licences for charcoal exports. Read Also:Halliburton Awarded Drilling, Completion Contracts For Suriname’s GranMorgu Project The investigation is part of a broader effort by NACOC to identify those behind the suspected international drug trafficking operation and determine whether export procedures were properly followed or compromised. Australian authorities have not publicly disclosed further details about the seizure, and NACOC has yet to announce any formal charges against the detained officials.

Zambia Signs Contracts For 312-MW Solar Power Project Across 156 Constituencies

Zambia’s government has signed contracts for the construction of 2-megawatt solar power plants in each of the country’s 156 constituencies under the Presidential Constituency Energy Initiative. The projects, which are expected to be completed within 12 months, will add a combined 312 megawatts of solar generation capacity to the national grid. Permanent Secretary Nicholas Phiri said the 4.3 billion kwacha (equivalent of $238,112,242.00) project, approved by Cabinet in November 2025, will be implemented through a special purpose vehicle, with state-owned power utility ZESCO serving as project manager. Read Also: Ghana Risks Electricity Imports Without Renewable Energy Investment, Tanoh Warns The initiative, which will be partly financed through the Constituency Development Fund, aims to increase electricity supply, support agricultural production, stimulate business activity, create jobs and improve the delivery of social services across the country. Phiri urged contractors to mobilise promptly and said the government remained committed to expanding access to reliable and clean energy.

Ghana: Petrol, Diesel Price Floors Increased To GH¢13.28 And GH¢14.35 From July 16

Motorists in Ghana are expected to pay more for fuel during the second pricing window of July after the National Petroleum Authority (NPA) increased the price floors for petrol and diesel, effective July 16, 2026. The price floor for petrol has been raised from GH¢12.79 to GH¢13.28 per litre, while the diesel price floor has increased from GH¢13.54 to GH¢14.35 per litre. The price floor is the minimum approved price at which oil marketing companies (OMCs) are permitted to sell petroleum products. Under the policy, no OMC is allowed to sell fuel below the prescribed minimum price. The NPA introduced the price floor policy in April 2024 to prevent price distortions and promote stability in the downstream petroleum sector. According to the authority, the policy is aligned with the Petroleum Pricing Guidelines and is intended to enhance transparency, sustainability and fairness in the fuel market. It said the initiative is expected to create a more predictable pricing structure while supporting fair competition among industry players. The NPA added that the decision to implement the policy followed recommendations from stakeholders in the petroleum industry. Data published by the authority showed that international prices of refined petroleum products increased marginally during the pricing window. The benchmark price for gasoline (petrol) rose from $922.24 per metric tonne to $970.63 per metric tonne, while diesel increased from $901.09 per metric tonne to $974.40 per metric tonne. The increase in international refined product prices contributed to the upward adjustment in Ghana’s domestic fuel price floors for the latest pricing window.

Ghana: Tema Oil Refinery Signs First Collective Bargaining Agreement Since 2018

Ghana’s Tema Oil Refinery (TOR) has signed a new Collective Bargaining Agreement (CBA) with its local unions, marking the refinery’s first such agreement since 2018.

The agreement was signed on July 9 in the presence of the refinery’s Board Chairman, Nayon Bilijo, and a member of the Board of Directors.

TOR’s management team was led by Managing Director Edmond Kombat and his deputy Alhaji Mustapha Abubakar, while the unions were represented by officials of the General Transport, Petroleum and Chemical Workers’ Union (GTPCWU), the Union of Industry, Commerce and Finance Workers (UNICOF), and leaders of the refinery’s local unions.

The refinery said the agreement reflects its commitment to improving employee welfare and recognizes competitive remuneration as a key factor in motivating staff and sustaining productivity.

TOR said all relevant stakeholders participated throughout the negotiations as part of efforts to promote transparency, good governance and inclusiveness.

“This collaborative approach reflects management’s commitment to fostering constructive labour relations, promoting staff welfare, and supporting the professional growth and development of its workforce,” the refinery said in a statement.

Halliburton Awarded Drilling, Completion Contracts For Suriname’s GranMorgu Project

  Halliburton (NYSE: HAL) has been awarded integrated drilling and completion contracts for the GranMorgu deepwater development offshore Suriname, the oilfield services company said. GranMorgu is operated by TotalEnergies. The long-term agreement covers drilling and completion services for the offshore development. Halliburton said it will deploy an integrated digital and automated execution model combining planning, engineering and operations to improve efficiency, optimize well placement and reduce well construction costs. The company said it will use integrated digital workflows, real-time data and remote operations to support drilling and completion activities, with the aim of improving delivery and enhancing hydrocarbon recovery while lowering overall project costs. Halliburton said the project will also support local capability development through infrastructure investment and collaboration with local suppliers. “The award reflects the value of integrated execution, collaboration and digital technology in complex deepwater developments,” Franco Delano, Halliburton’s vice president for the Caribbean, said in a statement. “The GranMorgu project demonstrates how aligned teams and advanced well construction capabilities support the safe and efficient delivery of wells while maximizing asset value for our customers,” he added.  

Ghana: PURC Should Adopt NPA’s Fair And Transparent Pricing Framework For Electricity And Water Tariff Setting(Opinion)

The recent increases in electricity and water tariffs have sparked widespread public discussion, with many Ghanaians calling on the Public Utilities Regulatory Commission (PURC) to review or withdraw the new tariffs.

The new tariffs, which took effect on July 1, 2026, saw electricity tariffs increase by 3.49%, while water tariffs rose by 0.85%.

In an opinion piece, Benjamin Nsiah, Executive Director of the Centre for Environmental Management and Sustainable Energy, described the PURC’s tariff-setting model as opaque and lacking transparency.

He urged the Commission to adopt the National Petroleum Authority’s (NPA) pricing framework, which he said is fair, transparent, and provides a clear basis for periodic price adjustments.

Below is the full opinion piece by Benjamin Nsiah.

The Public Utilities Regulatory Commission’s (PURC) recent decision to increase electricity tariffs by 3.49% and water tariffs by 0.85% respectively in the third quarter of 2026 exposes the regulator’s historical weaknesses concerning transparency and fairness in electricity pricing in Ghana. The lack of transparency may restrict end-users’ ability to understand or evaluate whether tariffs reflect fair costs or market realities. A critical deficiency lies in the limited disclosure of key market indicators and their respective weights in determining water tariffs, as well as the exact weightings associated with the exchange rate, inflation, generation mix, and weighted average cost of gas (WACOG) for natural gas in determining electricity tariffs. This opacity starkly contrasts with the National Petroleum Authority’s (NPA) pricing regime, which sets a commendable standard through comprehensive and transparent disclosure practices. The petroleum authority publishes detailed Petroleum Products Pricing Guidelines that specify the exact pricing benchmarks, conversion factors for each product, and the precise formula for calculating ex-refinery and ex-pump prices. The Authority clearly communicates the applicable pricing windows and FOB averaging periods and publishes actual ex-pump prices for public information. The NPA’s pricing demonstrates a higher degree of transparency than PURC’s approach by regularly publishing detailed pricing indicators such as exchange rates, ex-refinery prices, and conversion factors. This approach promotes accountability by elucidating the components driving price changes and enabling stakeholders to verify the integrity of pricing decisions. The PURC should urgently adopt a similar approach by publishing a comprehensive weighting scheme for its market and macroeconomic indicators. This can enhance its credibility and address public concerns regarding tariff fairness and regulatory accountability. The transparency and disclosure of influential variables anchor pricing decisions in objective and observable market factors rather than opaque administrative discretion, thereby reducing perceived arbitrariness. Just as the NPA specifies that FOB prices are based on Platts benchmarks with precise conversion factors (e.g., 1183.43 for gasoil), PURC should disclose its equivalent technical parameters. This would enable the independent verification of tariff decisions and likely reduce the perception of arbitrary adjustment. Publishing such benchmarks or indicators provides both utility providers and end users with adequate notice and enables stakeholders to anticipate adjustments based on established rules. This aligns with the principles of fair pricing, where stakeholders are informed in advance about potential tariff movements based on real economic variables. The established schedule should include key updates on exchange rate volatility, inflation, the cost of natural gas, and changes in weights or conversion factors that materially impact cost structures. Learning from the NPA, the utility regulator should institutionalize these transparency measures as a core regulatory function rather than as ad hoc communication. Voluntary disclosures by the regulator may fall short of expectations and could be perceived as serving the interests of utility providers and the government, particularly if the disclosure practices remain inconsistent. However, mandatory and consistent disclosures combined with self-regulatory frameworks can foster collective accountability and public benefit. In conclusion, PURC’s tariff-setting will benefit substantially from adopting transparent disclosure practices akin to the National Petroleum Authority’s model, particularly the publication of comprehensive pricing indicators and a formalized waiting scheme for periodic tariff reviews.

Masdar Secures $5.1 Billion For World’s Largest Solar-And-Battery Project In Abu Dhabi

Masdar, the United Arab Emirates’ clean energy company, said on Monday it had secured financing for what it described as the world’s first gigascale round-the-clock renewable energy project in Abu Dhabi. The project, which will require a total investment of $6.1 billion, will see Masdar contribute $1 billion in equity. The company said it had reached financial close on a $5.1 billion financing package backed by a consortium of 13 international and local banks. The lenders include Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Bank of China, HSBC, KfW IPEX-Bank, Natixis and Sumitomo Mitsui Banking Corporation, among others. The financing package “demonstrates strong market confidence in both the project’s commercial viability and Masdar’s ability to deliver complex energy infrastructure at scale,” the company said in a statement. Read Also: Ghana: Puma Energy Africa Head Pays Courtesy Visit To NPA Chief Executive The project will comprise a 5.2-gigawatt (GW) solar photovoltaic plant integrated with a 19-gigawatt-hour (GWh) battery energy storage system. It is being developed jointly by Masdar and Emirates Water and Electricity Company (EWEC). Masdar said the project would be the world’s largest and most technologically advanced integrated solar photovoltaic and battery energy storage facility capable of delivering round-the-clock renewable power. The company, which broke ground on the project in October 2025, expects it to begin operations in 2027. “The 24/7 renewable energy project remains a cornerstone of the UAE’s clean energy strategy, contributing to energy security and economic diversification,” Masdar said. Masdar currently has a diversified portfolio of more than 65 GW spanning solar, onshore wind, offshore wind, battery energy storage and hybrid renewable energy projects. The company aims to expand its global renewable energy portfolio to 100 GW by 2030 as it seeks to become one of the world’s largest renewable energy companies. Masdar is jointly owned by Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company and Abu Dhabi National Energy Company (TAQA).

 

Liberia: LEC Strengthens Thermal Generation Capacity Through JICA-Supported Diesel Generator Maintenance Programme

The Liberia Electricity Corporation (LEC), in partnership with the Japan International Cooperation Agency (JICA), has reviewed progress on a capacity-building programme aimed at strengthening diesel generator maintenance as the utility seeks to improve power reliability. The review was conducted during a Joint Coordinating Committee (JCC) meeting, where officials assessed the implementation of the Project for Capacity Development in Diesel Generator Maintenance and reaffirmed their commitment to enhancing technical expertise within LEC’s Thermal Generation Division. The project has provided classroom and hands-on practical training for LEC personnel, focusing on the 2,400-hour maintenance cycle for diesel generators. Preparations are now underway to train staff on the more advanced 20,000-hour maintenance programme to strengthen the utility’s long-term operational capacity. LEC said its Thermal Generation Division remains a key component of Liberia’s electricity system, providing backup generation when hydroelectric output or other power sources are insufficient to meet demand. The utility said it would continue investing in staff development and technical capacity as part of efforts to improve service delivery and maintain critical generation assets. The meeting brought together senior officials from the Liberian government, LEC and JICA, including Deputy Minister of Energy Charles Umehai, LEC’s deputy managing directors for Operations, Technical Services and Administration, as well as directors from the Strategy, Corporate Affairs and Revenue Protection departments. The JICA expert team presented an update on the project’s implementation, highlighting progress in strengthening maintenance capabilities within LEC. Presentations were delivered by Chief Advisor Jujii Kyoji, Technical Planning and Management Expert Iwago Mikiko, and Senior Representative of the JICA Ghana Office, Ito Miwa. Speaking on behalf of the trainees, Saidu S. K. Jalibah, Operations Manager of LEC’s Thermal Generation Division, said the programme had enhanced staff knowledge and practical skills in generator maintenance. He also outlined the division’s operations and maintenance plan, saying the training would improve equipment reliability, operational efficiency and the sustainability of power generation. LEC management thanked JICA for its continued technical support, describing investment in human capital as essential to strengthening Liberia’s electricity sector and improving the reliability of power supply across the country.

Nigeria: ExxonMobil Commits $1 Billion To Usan Infill Project

U.S. oil major ExxonMobil and its partners have committed $1 billion to the Usan Infill Project in Oil Mining Lease (OML) 138 offshore Nigeria, marking a significant investment aimed at boosting crude oil production in the West African country. ExxonMobil’s Nigerian affiliates Managing Director, Jagir Baxi, announced the investment commitment during the 25th NOC Energy Week Conference and Exhibition in Abuja. The investment decision is expected to increase production from the Usan field through the drilling of additional wells and the development of supporting subsea infrastructure. The project forms part of ExxonMobil’s broader strategy to sustain output from its deepwater assets in Nigeria while strengthening the country’s upstream oil sector. Baxi said the investment underscores ExxonMobil’s long-term commitment to Nigeria and reflects confidence in the country’s improving investment environment and ongoing reforms in the oil and gas industry. Read Also: Iran Shuts Strait Of Hormuz, Launches New Attacks On US Bases In The Gulf The announcement comes as Nigeria seeks to attract fresh upstream investments following the implementation of the Petroleum Industry Act and other measures aimed at improving the competitiveness of its energy sector. The Usan field, located about 100 kilometres offshore in the eastern Niger Delta, is one of Nigeria’s major deepwater producing assets. Production from the field began in 2012. The block is operated under a Production Sharing Contract (PSC) with NNPC Limited. Other partners in OML 138 include Chevron, TotalEnergies and Nexen, a wholly owned subsidiary of CNOOC. The new investment is expected to support Nigeria’s efforts to increase crude oil production, enhance government revenues and create employment opportunities across the oil and gas value chain. ExxonMobil remains one of Nigeria’s largest international oil investors, with interests in both offshore and deepwater operations through its Nigerian affiliates. Commenting on the announcement, the Chief Executive of the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), Mrs. Oritsemeyiwa Eyesan, said the investment decision was particularly significant because Esso Exploration and Production Nigeria, ExxonMobil’s Nigerian affiliate, had not undertaken any drilling operations since 2016.

Ghana: Puma Energy Africa Head Pays Courtesy Visit To NPA Chief Executive

The Head of Puma Energy Africa, Ben Ouattara, on Friday paid a courtesy visit to the Chief Executive of the National Petroleum Authority (NPA), Godwin Kudzo Tameklo Esq. Ouattara, who is on a working visit to Ghana, thanked the NPA for its support and cooperation, saying it had enabled Puma Energy to strengthen its operations in the country. He reaffirmed the company’s commitment to deepening its partnership with the Authority to support the development of Ghana’s downstream petroleum industry. Ouattara said Puma Energy was diversifying into strategic business areas where it has expertise and can add greater value to Ghana’s economy. He added that the company was expanding its operations across Africa, with Ghana serving as the hub for its sub-regional activities. Responding, Tameklo said President John Dramani Mahama’s vision is to create an enabling environment for the private sector to drive economic growth. He said the NPA is committed to supporting that vision by fostering a conducive business environment for companies operating in the downstream petroleum sector, enabling them to grow and realise returns on their investments. Tameklo said the downstream petroleum industry continues to face significant infrastructure gaps and encouraged greater private sector investment to help address them. He described Puma Energy as an important partner in Ghana’s downstream petroleum industry, noting that the company’s contribution to the sector is well established. Tameklo also acknowledged Puma Energy’s strong presence in the aviation fuel market and reaffirmed the Authority’s commitment to strengthening its partnership with the company to support its growth and attract further investment into Ghana. The Puma Energy delegation included Lanzeni Couliba, General Manager of Puma Energy Ghana, and Daniel Reppah, Commercial Manager of Puma Energy Ghana.

Ghana: JK Horgle Urges Government To Improve Transport Infrastructure For Successful 24-Hour Economy

JK Horgle Transportation & Company Limited, one of Ghana’s largest petroleum haulage companies, has expressed concern over the country’s poor transport infrastructure, urging the government to urgently improve roads, railways and electric vehicle charging networks if its 24-hour economy programme is to succeed. The company’s Chief Executive Officer, JK Horgle, made the call in a speech delivered on his behalf by Elinam Horgle during the Ghana Investment and Trade Week in Accra. Drawing on more than 50 years of experience transporting petroleum products across Ghana and parts of West Africa, Mr. Horgle described transportation as the backbone of every economy. “Movement is the heartbeat of any economy. If the trucks stop, Ghana stops. If the logistics fail, our development fails,” he said. He stressed that efficient transport infrastructure is essential for the successful implementation of a round-the-clock economy. “Our transport infrastructure must be the strong foundation upon which everything else works,” he said. “You cannot have a 24-hour factory if the raw materials are stuck on a broken-down truck at 2:00 a.m. because of potholes. You cannot have a 24-hour market if delivery vans are delayed by poor road networks.” According to him, national development depends on the country’s ability to move people, goods and energy efficiently without unnecessary delays. Mr. Horgle proposed a three-pillar strategy to transform Ghana’s transport infrastructure. The first pillar, he said, is the development of quality roads supported by a strong safety culture and strict enforcement of transport regulations, including Legislative Instrument (LI) 2180. “For 24/7 operations, we need more than just asphalt; we need a culture of safety and total compliance,” he said. He noted that productivity cannot be separated from safety, adding that proper enforcement of road transport regulations would not only save lives but also reduce vehicle maintenance costs, shorten travel times and lower the cost of goods for consumers. “When the road is good, the economy breathes,” he added. The second pillar is the revitalisation of Ghana’s railway network. Mr. Horgle said road and rail transport should complement rather than compete with each other, arguing that an integrated logistics system would reduce pressure on the country’s roads, lower the cost of transporting bulk cargo and strengthen supply chain resilience. “By supporting bulk transportation with rail, we preserve the lifespan of our roads, reduce the cost of large-scale logistics and make our entire supply chain more resilient,” he said. The third pillar focuses on the development of nationwide electric vehicle charging infrastructure to support Ghana’s transition to cleaner transportation. He called for government policies that would encourage private investment in charging networks, saying the country must position itself to benefit from the growing global shift toward electric mobility. “Imagine a fleet of supply trucks moving across the country powered by clean energy and supported by a charging network that never sleeps. This is how we ensure Ghana remains globally competitive,” he said. Mr. Horgle further emphasised the importance of strong collaboration between government and the private sector, saying economic transformation could only be achieved through partnership. He said government should provide the policy direction and infrastructure while the private sector drives innovation, investment and job creation. Iran Shuts Strait Of Hormuz, Launches New Attacks On US Bases In The Gulf According to him, such collaboration would enable entrepreneurs to transport goods efficiently across the country and ensure that businesses and markets operate seamlessly throughout the day and night. He also highlighted his partnership with the University of Professional Studies, Accra (UPSA), to establish a Centre of Excellence in Logistics and Transport aimed at developing the skilled workforce needed to support Ghana’s modern transport and logistics industry. “We are training the next generation to manage these complex systems. We are teaching them that safety, hazard management and professionalism are the keys to building a vibrant 24-hour economy,” he said. He concluded by urging government, industry and citizens to work together to build transport systems capable of supporting continuous economic activity. “When we build better roads, expand our railways and embrace new energy networks, we are not just moving cargo—we are moving Ghana forward. Let us build a nation that never sleeps because our dreams are too big for a 9-to-5 economy. Together, we will keep Ghana moving.”  

Gambia, Ghana Petroleum Regulators Sign Deal To Strengthen Upstream Oversight And Capacity Development

The Petroleum Commission of The Gambia and the Petroleum Commission of Ghana have signed a memorandum of understanding (MoU) to strengthen cooperation in regulating and managing the upstream petroleum sector.

The agreement was signed on July 10 by Director General of the Petroleum Commission of The Gambia, Engr. Cany Jobe, and Acting Chief Executive Officer of the Petroleum Commission of Ghana, Ms. Emeafa Hardcastle, during a three-day visit by Ghanaian delegation to Banjul.

The MoU establishes a framework for cooperation in upstream petroleum regulation, local content, petroleum data management, legal and regulatory frameworks, and compliance monitoring and enforcement.

It also provides for institutional strengthening and capacity development through staff exchanges, training, study visits, internships, secondments, technical assistance and joint programmes.

During the visit, the Ghanaian delegation paid courtesy calls on The Gambia’s Minister of Petroleum, Energy and Mines, Nani Juwara, and the Gambia National Petroleum Corporation (GNPC).

The minister welcomed the delegation and conveyed his regards to his Ghanaian counterpart, Dr. John Abdulai Jinapor, Ghana’s Minister for Energy and Green Transition. He reaffirmed the longstanding relationship between the two countries and The Gambia government’s commitment to strengthening cooperation between their petroleum institutions.

During the technical engagement, the two commissions exchanged experiences on regulatory governance, institutional development, upstream licensing and licence management, local content implementation, public procurement, institutional financing, stakeholder engagement, human resource development, and collaboration with Parliament and other oversight institutions.

Describing the agreement as a practical partnership founded on institution-building and shared learning, Engr. Cany Jobe said strong institutions were essential to ensuring petroleum resources deliver lasting national benefits.

“A country may discover petroleum, but without capable institutions, clear rules, technical discipline, public trust and responsible oversight, the opportunity can easily be weakened,” she said.

Jobe said while petroleum discoveries depend on geology, science and investment, it is strong institutions that ultimately determine whether those discoveries translate into sustainable national benefits.

She added that this was why the partnership with the Petroleum Commission of Ghana was significant.

She said Ghana’s petroleum sector provides valuable lessons for frontier petroleum jurisdictions such as The Gambia.

Ghana began commercial oil production in 2010 and currently produces oil from three fields: Jubilee, TEN and Sankofa-Gye Nyame.

For her part, Emeafa Hardcastle described the signing as “far more than a formal act” and “a landmark moment and a powerful symbol of our mutual commitment to a brighter future.”

She said the agreement comes at a time when African petroleum-producing and frontier countries face common challenges, including increasing competition for investment and the realities of the global energy transition.

She added that collaboration among African regulators had therefore become increasingly important, enabling institutions to leverage their complementary strengths, deepen technical cooperation and pursue mutual development.

Emphasising that implementation would determine the success of the partnership, Hardcastle said: “Our most important task begins: turning the commitments in our MoU into meaningful, on-the-ground results.”

She expressed confidence that the partnership would strengthen not only the two institutions but also the enduring friendship between the peoples of Ghana and The Gambia.

Permanent Secretary at the Ministry of Petroleum, Energy and Mines, Abdoulie Jallow, representing the minister, reaffirmed the ministry’s full support for the partnership. He described the MoU as a reflection of Pan-African cooperation and the shared belief that African countries can accelerate their development by learning from one another.

Under the MoU, the two commissions will establish a Joint Steering and Oversight Committee to guide implementation, develop annual work programmes and coordinate technical cooperation through specialised sub-committees.

The Petroleum Commission of The Gambia expressed its appreciation to the Petroleum Commission of Ghana for its visit, friendship and continued partnership, as well as to the Ministry of Petroleum, Energy and Mines, the Commission’s Board, management and staff, and all stakeholders whose support contributed to the success of the visit.

Ghana Risks Electricity Imports Without Renewable Energy Investment, Tanoh Warns

Presidential Advisor to the 24-Hour Economy and Accelerated Export Development Secretariat, Goosie Tanoh, has called for urgent investment in renewable energy to expand Ghana’s electricity generation capacity and support the country’s industrialisation agenda. Tanoh said Ghana risked becoming dependent on imported electricity if it failed to make strategic investments in renewable energy while other countries continued to build cheaper and cleaner power generation systems. Speaking at Ghana Investment and Trade Week, organised by the Ghana Chamber of Construction Industry, Tanoh outlined a number of renewable energy projects the Secretariat is implementing with private investors at its industrial parks to help power the government’s 24-hour economy initiative. He said renewable energy offered a cheaper and more sustainable alternative to fossil fuels, which are finite and increasingly expensive for electricity generation. “Renewable energy does not run out. The sun rises over Ghana every day at no charge, and the cost of equipment that captures it has fallen by about 90% over recent years. An economy that runs on fossil fuel must buy fossil fuel again every year in foreign currency. An economy that runs on renewable energy pays for the equipment once, and the energy costs nothing thereafter,” Tanoh said. He said disruptions to global energy markets caused by tensions in the Middle East, including concerns over shipping through the Strait of Hormuz during the recent Iran-Israel conflict and U.S. military involvement, underscored the need for Ghana to accelerate its transition to renewable energy. Citing China, Tanoh said the country had, over the past two decades, installed more solar power capacity than any other nation, helping to drive industrial growth and reduce reliance on fossil fuels. He also referred to the United States’ Inflation Reduction Act of 2022, under which the Biden administration committed hundreds of billions of dollars to clean energy investment, including solar power. He said Texas had installed more new solar generating capacity than any other U.S. state because it had become one of the cheapest sources of electricity. Turning to Africa, Tanoh cited Morocco’s Noor Ouarzazate Solar Complex, one of the world’s largest concentrated solar power facilities with a total installed capacity of about 580 megawatts, as an example of how renewable energy can support industrialisation. Tanoh said the 24-Hour Economy and Accelerated Export Development Secretariat was committed to developing solar power projects to supply its industrial parks with reliable electricity, enabling continuous industrial operations and supporting the government’s industrialisation drive.

Iran Shuts Strait Of Hormuz, Launches New Attacks On US Bases In The Gulf

Iran’s Islamic Revolutionary Guard Corps (IRGC) said on Sunday it had closed the Strait of Hormuz after firing a naval cruise missile at a vessel it accused of using an unauthorised route, in what it described as a further escalation in tensions with the United States. This portal could not independently verify the claims or whether shipping through the strait had been halted. The announcement came after what the IRGC described as a new wave of U.S. military strikes on Iranian positions. In a statement carried by the IRGC-affiliated Tasnim News Agency, the force accused foreign powers of violating security in one of the world’s busiest maritime trade routes through what it called unauthorised shipping activity. “Given the precariousness caused by this unlawful interference by outside parties, the Strait of Hormuz is to be closed until further notice and until regional interference by the U.S. ceases,” the statement said. “No vessel or naval craft will be allowed to pass.” The IRGC warned that any attempt by the United States to challenge the blockade would prompt a military response and said U.S. military bases in the region would become legitimate targets if hostilities continued. Iranian Parliament Speaker Mohammad Bagher Ghalibaf, who has also played a role in negotiations with the United States, wrote on X: “The era of one-sided deals is OVER.” “We told you: keep your word or pay the price. Reality is knocking,” he added. The developments, if confirmed, would threaten to undermine a ceasefire agreed by Washington and Tehran in June after months of hostilities. The agreement was intended to reduce tensions, safeguard shipping through the Strait of Hormuz and support stability in global energy markets. The ceasefire has come under repeated strain as the two sides have exchanged military strikes, while negotiations over Iran’s nuclear programme have remained unresolved.