Business News of Wednesday, 24 April 2024

Source: peacefmonline.com

Ghana signs agreement with CNNC for construction of Technology Nuclear Power Project

Energy Minister, Dr. Matthew Opoku Prempeh and President of CNNC, Mr. Yu Jianfeng Energy Minister, Dr. Matthew Opoku Prempeh and President of CNNC, Mr. Yu Jianfeng

On the margins of 26th World Energy Congress still underway in Rotterdam, Netherlands, the Nuclear Power Ghana Limited and China National Nuclear Corporation Overseas Limited (CNNC) have signed a cooperation and framework agreement for the construction of HPR 1000 Technology Nuclear Power Project and the upgrade of Ghana’s grid.

This is pursuant to cabinet approval for the inclusion of nuclear in Ghana’s energy mix.

Ghana rejuvenated its nuclear programme in 2008 to meet the energy demand in the country.

Based on support from the International Atomic Energy Agency (IAEA), a number of countries have expressed interest to assist Ghana in the development of her Nuclear Power Programme.

This includes China which has a mutual diplomatic relationship with Ghana, especially their long-standing cooperation in the fields of energy and commerce.

Speaking at a pre-agreement signing ceremony, Energy Minister, Dr. Matthew Opoku Prempeh said this agreement represents a profound commitment to advancing Ghana’s nation's energy sector, ensuring sustainable development and meeting the growing demand for electricity in the country.

“Ghana is at a crucial juncture in its journey towards economic prosperity and thus, the integration of nuclear power into our energy mix will play a pivotal role in achieving our goals”, he said.

Nuclear power, according to Dr. Opoku Prempeh, is reliable, efficient and environmentally friendly source of energy, offering a stable supply of electricity to power industries, businesses and homes.

“It is a testament of President Akufo-Addo’s vision for a diversified energy portfolio that prioritizes clean and sustainable sources of power”, he added.

The President of CNNC, Mr. Yu Jianfeng, speaking at the ceremony, commended the Minister for his leadership saying “any time we meet the Minister, we meet new energy and so I have no doubt that this agreement will yield fruits”.

The Government of Ghana continues to support the Ghana Nuclear Power Programme which is under the Power Directorate at the Ministry of Energy by participating, funding and making various contributions to achieve the goals of the programme.