Ratification of ISA Agreement to expand Ghana’s Renewable Energy Mix to 10%

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Ghana aims to increase its renewable energy mix from the current 1% to about 10% by 2030 through leveraging on opportunities that come with Parliament’s ratification of a framework agreement on the establishment of the International Solar Alliance (ISA).

The ISA is a treaty-based international intergovernmental organization of countries located between the tropics of Cancer and Capricorn to address their special energy needs through efficient exploitation of solar energy to reduce dependence on fossil fuels.

Last week Parliament ratified the agreement under which Ghana stands to benefit from a US$2 Billion Renewable Energy Credit Facility from India for African countries among the first fifteen countries to ratify the treaty. Globally, India is making available US$10 billion worth of credit facility for the ratification.

Ghana also stands to gain from technology transfer, high quality training and research from the India Center of Excellence in Renewable Energy, and access to equipment for demonstration projects at no cost for becoming a founding member of the treaty by virtue of the fact that is among the first fifteen that are required to trigger its enforcement.

The Alliance which was launched on November 30, 2015 has so far been signed by 31 countries including Ghana which signed on May 22, 2017.

So far only six countries including, India, France, Fiji, Mauritius, Nauru and Comoros have ratified the Framework Agreement.

The overarching objective of the establishment of the ISA is to create a collaborative platform for increased deployment of solar energy technologies to enhance energy security and sustainable development, as well as improve access to energy.

It is meant to reinforce efforts of other organizations such as the International Renewable Energy Agency (IRENA), Renewable Energy and Energy Efficiency Partnership (REEEP), International Energy Agency (IEA) and Renewable Energy Policy Network for the 21st Century (REN21) by establishing network and develop synergies with those organizations and supplementing their efforts in a sustainable and coordinated manner.

According to the report of Parliament’s Committee on Mines and Energy chaired by Emmanuel Akwasi Gyamfi, other benefits due Ghana include the potential to attract significant investments into the solar energy space. This is expected to improve access to the productive use of energy, leading to job creation, increase in the application of solar in other critical sectors of the economy such as water purification systems, solar powered irrigation for agriculture and health care.

Source: Clement Akoloh

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