Business News of Sunday, 8 October 2023

Source: thebftonline.com

Government advocates collaborative effort to strengthen energy efficiency

Energy Minister, Dr Matthew Opoku Prempeh Energy Minister, Dr Matthew Opoku Prempeh

The Ministry of Energy wants increased collaboration and coordination on efforts geared toward promoting the efficient use of energy.

Deputy Director-Renewable Energy, Ministry of Energy, Seth Mahu revealed this at the Energy Efficiency Network by Association of Ghana Industries – Energy Service Centre (AGI-ESC) launch in Accra, and said energy efficiency forms an integral part of the Ghana Renewable Energy Master Plan that highlights the adoption of energy conservation practices and promotion of energy-efficient technologies.

“The establishment and operationalisation of the Ghana Energy Efficiency Network will contribute to government’s policy action on promotion of energy efficiency in homes, industries and commerce, which is earmarked to generate an emission reduction of 1,899.3 kilo-tonnes of carbon dioxide equivalent,” he commented.

The reduction, he explained, can be monetised under Ghana’s Article 6.2 and 6.4 framework, to bring additional revenue into the industrial and commercial sectors.

The network is envisaged to provide a platform for interaction and collaboration among commercial and industrial clients as they come together to explore solutions for addressing energy management challenges through knowledge and experience sharing, he said.

The Energy Efficiency Network was launched with support from the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH.

The ground-breaking initiative aims to foster collaborative sustainable approach toward the promotion of energy efficiency and renewable energy within Ghana’s industrial sector. This will in turn contribute to energy and financial savings, and climate protection.

The Energy Efficiency Network, a first-of-its-kind in the country, offers a comprehensive and collaborative platform for industries in the Greater Accra Region to improve energy efficiency, reduce costs and carbon emissions, and enhance their competitiveness within the AfCFTA framework. The network will be implemented until December 2025 and comprise 13 large industries.

Each participant company in the network will be provided with technical support, including an ISO 50002:2014-compliant comprehensive energy audit. This enables companies to assess their energy and CO2 savings potential; estimate cost of the required investments; analyse economic benefits of the measures; individual energy saving targets; and the return on investment for each measure. The companies will also be provided with additional support to implement these recommended measures in their production processes.

The platform will facilitate knowledge-exchange, best practice sharing, and capacity-building to equip participants with innovative energy-saving techniques and technologies.

Seth Twum-Akwaboah, Chief Executive Officer-AGI, expressed enthusiasm about this transformative initiative, stating: “The Energy Efficiency Network represents a pivotal moment for Ghana’s industrial landscape. The AGI is proud to partner with GIZ to strengthen our commitment to sustainable development and energy conservation. By empowering our members to adopt energy-efficient practices, we can drive positive change, achieve cost savings and bolster Ghana’s position in the global market”.

Through the Energy Efficiency Network, a myriad of benefits is envisaged for local industries: including reduced operational expenses, improved energy security and a reduced carbon footprint. Additionally, these collective efforts will contribute to the United Nations Sustainable Development Goals – particularly Goal 7 (Affordable and Clean Energy), Goal 9 (Industry, Innovation and Infrastructure) and Goal 13 (Climate Action).