$2.761 billion saved in in the Energy sector since 2019 - Dr. Opoku Prempeh

The Minister said government is committed to ensuring long-term financial sustainability in Ghana's power sector.

$2.761 billion saved in in the Energy sector since 2019 - Dr. Opoku Prempeh
Dr. Matthew Opoku Prempeh

The Minister of Energy Minister, Dr. Matthew Opoku Prempeh says the Akufo-Addo administration  made total savings of $2.761 billion in the energy sector since 2019

He made reference to the Project Light, which is aimed at renegotiating legacy Power Purchase Agreements (PPAs) 

Briefing the media on the energy sector under the topic 'Delivery Reliable and Affordable Power', Dr. Opoku Prempeh said concerning the over 46 PPAs signed by the previous government with Independent Power Producers (IPPs), the government managed to get some of the agreement deferred adding that the savings that have been made on the deferment of agreements of Early Power, Jacobsen Power Ltd and Rotan are significant and sets the tone for a more sustainable energy sector financial management framework.

He said "We have made savings on deferment of 3 PPAs amounting to $1.426bn since 2019" amounting to $475.50m per deferred PPA.

The Minister said the total saving was sufficient to build 62 stadia the size of Tamale Stadium adding that in addition to other savings, a total of $1.335 billion brings the total savings to $2.761bn in the energy sector.

He stated that the government is committed to ensuring long-term financial sustainability in Ghana's power sector.