Business News of Friday, 4 October 2024

Source: Kenneth Nana Amoateng, Contributor

Assembly members engaged on energy transition

Some participants at the programme Some participants at the programme

Assembly members at the Tema Metropolitan Assembly have been engaged in an energy transition capacity-building program to keep them informed and to seek their feedback. The stakeholder engagement was conducted by Robert Amiteye, Coordinator of the AbibiNsroma Foundation.

Transitioning from fossil fuels to renewable energy is critical in an industrial city like Tema, which has two oil refineries that remain the heartbeat of Ghana's economy. Ghana's oil production is vital for the growth of its gross domestic product.

However, with unstable global oil prices and exchange rates, fossil fuels like imported refined oil make the cost of commodity production high for industries. This high cost is often passed on to the consumer.

Pollution from the use of fossil fuels, as a contributor to carbon emissions, was mentioned as one of the associated challenges. As part of the Sustainable Development Goals, countries are determined to commit to clean green energy for production and consumption. Ghana has a target to improve its energy mix with renewable solar power generation.

It was evident that the local legislators needed more information on the subject of transitioning from fossil fuels to clean green renewable energy. Concerns included the availability, easy access, and affordability of renewable energy technologies to meet the daily needs of society.

The Assembly members, who are local legislators at the district level, agreed that transitioning to clean renewable energy would be in the best interest of Tema's growing economy. Tema, being Ghana’s foremost industrial hub, still can host renewable energy technology production companies.

Local production with value addition to natural resources, such as the newly discovered lithium which is vital in the renewable energy chain, would create job opportunities and help to add value to the local currency.