Accra: The Association of Ghana Industries (AGI) has called on the Government to expand incentives for renewable energy projects to support industrial growth and sustainable power supply. The Association highlighted the need for measures such as tax reliefs on renewable energy technologies, affordable green financing, and streamlined regulatory processes to encourage investment in the sector.
According to Ghana News Agency, Dr. Kofi Nsiah-Poku, President of AGI, made the call at the opening of a sustainable energy business-to-business expo organized by the Association. The event, held in Accra, was themed 'Powering Industry Through Sustainable Energy.' Dr. Nsiah-Poku emphasized the importance of a reliable and uninterrupted electricity supply in sustaining Ghana's industrial growth and supporting the Government's 24-hour economy agenda.
Dr. Nsiah-Poku stated that AGI believes the future of Ghanaian industry depends on adopting cleaner, smarter, and more efficient energy solutions. He also mentioned the establishment of the AGI Energy Service Centre, which aims to support businesses with technical guidance and energy efficiency solutions.
Mr. Seth Mahu, Director of Renewable Energy at the Ministry of Energy and Green Transition, urged businesses to adopt hybrid energy sources to address intermittent power supply challenges. He noted that investment in renewable energy and energy storage systems would improve operational efficiency, reduce costs, and enhance businesses' green ratings. Mr. Mahu highlighted the limitations of solar technology, which is effectively available for only five hours per day, and stressed the need for energy solutions beyond those hours.
Mr. Mahu also mentioned the Ministry's collaboration with partners to build a resilient national grid system to facilitate the integration of renewable energy. The Ministry aims to bring on board not less than 1,400 megawatts of installed capacity, with current levels at around 350 megawatts and pipeline projects expected to deliver close to 600 megawatts by 2028.
To support decarbonization efforts within the energy sector, Mr. Mahu explained that the Ministry had established interventions, including a renewable energy fund. This fund is designed to provide financial support to the sector. Additionally, the Ministry has launched a net metering web application portal under the Scaling-Up Renewable Energy Programme. This platform allows individuals and organizations generating electricity through solar photovoltaic systems to export excess power to the national grid and receive credits to offset electricity bills.