Global Energy
For every nation, energy is at the heart of economic growth. It has proven to be the vital organ, pumping investments, pushing innovations and creating new industries.
The global energy landscape is burgeoning under a never-ending transformation process, from the age of wood as a dominant fuel to the adoption of coal and, more recently oil. A new era beckons, with renewable energy playing an increasingly vital role in helping countries develop modern, secure energy systems. The changes, combined with volatile energy prices and occasional shocks, create interesting scenarios for the future.
Ghana’s Energy Sector
Shifting our lenses back home, Ghana’s Energy Sector (Power and Petroleum sectors) presents a promising economic development instrument.
Brief Overview of Power Sector
Ghana’s power supply sources are from hydroelectricity, solar, thermal fueled by crude oil, natural gas and diesel. The country also exports power to Togo, Benin and Burkina Faso.
Ghana has a vibrant power generation terrain with players from both the public and private sectors; Volta River Authority, Bui Power Authority, Sunon Asogli Power among many others. Transmission of power is the responsibility of the Ghana Grid Company (GRIDCo).
Electricity distribution in Ghana is carried out by three main distribution utilities, two state-owned and one private sector operated – The Electricity Company of Ghana (ECG), Northern Electricity Distribution Company (NEDCo), and Enclave Power Company Ltd (EPC) respectively.
Brief Overview of Petroleum Sector
In 2007, the Jubilee Field became Ghana’s first major commercial discovery. In less than a decade of First Oil from the Jubilee Field, significant strides have been made in the Upstream Subsector with several discoveries made since 2007. Ghana currently has three offshore producing fields, Jubilee, Tweneboa, Enyera and Ntomme (TEN) and Sankofa and Gye Nyame Field. The significant indigenous associated and non-associated gas reserves discovered from Ghana’s fields has created greater prospects for diversifying the economy.
The Petroleum Downstream subsector in Ghana is predominantly characterized by the importation of crude oil and finished products, refining, storage, Transportation (road, rail, lake and ocean), marketing and sale of petroleum products.
As Ghana positions itself to be a power and petroleum hub in the sub region, increased investment in various forms of infrastructure will be reacquired and encouraged to enable the country significantly improve efficiency in providing services and products across the sub region.
Ghana is well endowed with renewable energy resources which are yet to be fully exploited. These include biomass, hydropower potentials, wind potentials along the coast and high solar irradiation. The National roadmap to integrate nuclear power into Ghana’s energy mix has been developed and accepted by the International Atomic Energy Agency (IAEA).
Where We Come In
The global energy space and Ghana’s sector clearly offers vast opportunities to provide ancillary services to sector players; where Energy Media Group (EMG) fits in.
With an initial focus on delivering reports purposively on sector happenings, performances and stakeholders, EMG has further extended its expertise, consolidating gains made, by strategically positioning itself as the first-choice partner to advance clients’ business objectives and interests within the sector.