- Dr Bawumia plans to add a 2,000 MW solar power boost in four years under the NPP.
- Less oil reliance will stabilise electricity prices and cut living costs.
- Solar power integration aims to halve power costs, boosting business competitiveness.
Ghana’s Vice President, Dr Mahamudu Bawumia, announced that the following New Patriotic Party (NPP) administration will introduce 2,000 megawatts of solar power boost over the next four years. Addressing the clergy in the Volta Region, Dr Bawumia highlighted the high cost of electricity as a critical issue for Ghanaian businesses.
Dr Bawumia noted that Ghana’s reliance on oil and gas makes it vulnerable to international crude oil prices and forex rate fluctuations. These factors increase living costs and affect business competitiveness.
“To reduce the cost of living, we must rethink our power generation strategy. Ghana’s dependence on oil and gas leads to high electricity prices, especially when global oil prices rise,” Dr Bawumia stated. “Switching to solar power is essential. My goal involves adding 2,000 megawatts of solar power within the next four years, which exceeds half of our electricity consumption.”
He explained that combining solar power with the Akosombo Dam’s hydroelectric production can cut power costs by nearly 50 per cent, giving Ghanaian businesses a competitive edge.
The initiative aims to shield Ghana’s energy sector from volatile international markets and ease the economic burden on citizens and businesses. Dr Bawumia emphasised that lowering power costs is crucial for improving Ghana’s standard of living and business competitiveness.
The NPP government seeks to stabilise electricity prices and make Ghanaian businesses more competitive globally by reducing dependence on oil and gas. The proposed solar power expansion plays a vital role in this strategy. Which promises Ghana significant economic benefits and a more sustainable energy future.