Since taking office in January 2017, President Nana Akufo-Addo, alarmed that Ghana’s dash for electricity risked swinging from power shortages to a power glut — and paying too much in the process – has applied the brakes on the power procurement process. Renewable power projects, were prominent among the dozens of contracts granted to developers in recent years as Ghana scrambled to overcome a chronic electricity shortage. To the consternation of investors, the new government has begun the process of renegotiating downwards the subsidy levels for green power and delaying or even cancelling some projects. Investors, for their part, have raised concerns over the inadequacy of tariffs, the poor investment environment and the limited availability of renewable technological capacity and experience. To fulfill its ambitions, Ghana’s Energy Commission is currently proposing the introduction of tax credits designed to encourage investment and purchases of solar, wind and biofuels so that renewables could contribute 10 percent of electricity production by 2020. Continue Reading at https://newsbase.com/sites/files/rem.pdf 12 October 2017 Renewable Energy Monitor Page 6.
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