Savings made in energy sector can build 62 stadia – Energy Minister

The Energy Minister, Dr. Mathew Opoku Prempeh, says the Akufo-Addo government has saved billions of dollars in the energy sector since 2019.

According to him, the total amount of money saved in the energy sector can build as many as 62 stadia.

The Minister said this during a press conference on Sunday, which was themed ‘Delivery Reliable and Affordable Power’.

He noted that the billions of dollars were saved on deferment of legacy Power Purchase Agreements (PPAs).

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

“The total saving was sufficient to build 62 stadia the size of Tamale Stadium,” Dr. Opoku Prempeh stated, as quoted by 3news.

He further noted that the government was aiming at long-term financial sustainability in the power sector.

This, he said, has been done through the approval of the Energy Sector Recovery Programme (ESRP).
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“We are fully committed to release funds as has been done since 2017 to improve liquidity of the value chain.

“These measures are part of the Akufo Addo led government’s broader strategy to ensure long term financial sustainability in Ghana’s power sector,” the Energy Minister added.

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