Total savings made by Akufo-Addo in energy sector can build 62 stadia – Energy minister

Energy Minister Dr Matthew Opoku Prempeh has said the Akufo-Addo administration has made substantial savings in the energy sector.

He said the savings were made on deferment of three 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,” he said.

“The total saving was sufficient to build 62 stadia the size of Tamale Stadium,” he said at a press conference on the theme ‘Delivery Reliable and Affordable Power’ in Accra on Sunday, May 16.

The Manhyia North lawmaker further announced that the government has approved the Energy Sector Recovery Programme (ESRP), which is being implemented to bring about the long-term financial sustainability of the sector.

“We are fully committed to releasing funds as has been done since 2017 to improve the 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.”