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Business News of Tuesday, 5 November 2024

    

Source: GNA

Experts, public officials divided over timeline for naming nuclear plant vendor

Nuclear power plant Nuclear power plant

Ghana is moving towards selecting vendor countries for its first nuclear power plant by the end of 2024, to add 1,000 megawatts of nuclear energy to its grid by 2034.

Deputy Minister of Energy, Collins Adomako-Mensah, highlighted the plant's role in achieving Ghana's Energy Transition Framework, targeting Net Zero emissions by 2060. Competitors for the project include major companies from France, the U.S., China, South Korea, and Russia.

However, limited funding for Nuclear Power Ghana (NPG) raises concerns about meeting timelines, as budget constraints have delayed key preparatory activities.

Industry leaders, such as AGI’s Kwame Jantuah, emphasize the necessity of sustainable funding to support Ghana’s industrialization and energy security goals through nuclear energy.

A preferred backup site has been chosen, with expectations that the plant will reduce energy tariffs, create jobs, and address challenges with current energy sources.

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