Ghana saves $500m from shift from liquid fuel to gas – Jinapor
Speaking at the *Future of Energy Conference*, Mr Jinapor said the transition formed part of government’s efforts to reduce the cost of power generation and improve the financial sustainability of the energy sector.
Ghana saved approximately $500 million last year by transitioning from liquid fuel to natural gas for thermal power generation, disclosed Energy and Green Transition Minister John Abdulai Jinapor. Delivering remarks at the Future of Energy Conference, Jinapor emphasized that the shift was part of the government's strategy to reduce power generation costs and enhance financial sustainability in the energy sector.
Import substitution played a significant role, as Ghana increasingly relied on gas over more expensive liquid fuels to operate its thermal power plants, resulting in a substantial saving of $500 million, according to Jinapor. He highlighted that this achievement should be sustained and built upon. The minister underscored the importance of structural reforms in reducing electricity costs and bolstering the energy sector, stating that financial reforms must be complemented by technological advancements and a diversified energy mix to ensure a sustainable and competitive power sector.
Jinapor reiterated the government's commitment to affordable and reliable electricity supply, particularly as Ghana aims to expand industrial activities and improve the competitiveness of local businesses. He noted that Ghana's energy strategy encompasses both thermal and renewable sources, alongside investments in strengthening the country's electricity infrastructure and meeting future demand.
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