The Association of Ghana Industries (AGI), the representative organization for manufacturing companies in Ghana, has expressed support for the inclusion of nuclear power in the nation’s energy portfolio.
Nonetheless, the Association has urged the government to maintain a stable macroeconomic environment to enable full industry participation and benefit from the nuclear power initiative.
Ghana plans to establish its inaugural nuclear power plant by 2030, aiming to contribute about five percent to the national energy mix initially, with an increase to 35 percent by 2070.
Nuclear power is intended to enhance energy security, meet electricity generation demands, lower carbon emissions, and support Ghana’s industrialization efforts, while also generating jobs within the value chain.
To realize these goals, Seth Twum-Akwaboah, the Chief Executive Officer (CEO) of the Association, emphasized the need for a stable macroeconomic environment to foster industrial growth.
He made these remarks in an exclusive interview with the Ghana News Agency on Tuesday, June 4, during the first day of a three-day workshop for journalists and editors in Accra.
The workshop, themed “Media support for Ghana’s Nuclear Power Project – the journey so far,” focused on the progress of Ghana’s nuclear power project.
Mr. Twum-Akwaboah highlighted the importance of secure, reliable, affordable, green, and clean energy, noting that nuclear power could provide a stable baseload amidst the declining hydro resources, high cost of thermal power, and frequent power fluctuations.
“Today, industries are struggling in several areas; for the nuclear power project, if we don’t have the capacity to acquire new technology and advance in ICT, and new machines, then, your capacity to even partner is weakened,” he said.
“Therefore, it’s very important for the environment to be conducive by stabilising the macroeconomy,” Mr Twum-Akwaboah, said, adding that it was important to make industries ready in terms of technology, funding, and capacity building.
“In all these, industries must be strong, and that would require that a conducive macroeconomic, so that when you invest, you get good returns, and be able to expand,” he said.
He stated that government support in fostering a conducive environment was essential since industries had no control over external factors such as inflationary pressures, high borrowing costs, and electricity expenses.
“Those are the critical areas that the government must work on. There are some external factors, but whatever it is, efforts must be made to stabilise it in a way that encourages investment with a good return on it,” he encouraged.
Mr Franklin Addai, Head, Legal Department, Bui Power Authority (BPA), who is also the Secretary to the Nuclear Power Ghana (NPG), called for a good blend between exercising right to information, disclosure and transparency, among all stakeholders, especially, implementers of the nuclear power project and the media.
“The media should not be in the dark and leave room for speculation; the implementer must disclose fully, information that will not hurt the programme,” Mr Addai said.
Dr. Stephen Yamoah, Executive Director of NPG, emphasized the progress achieved since media professionals received training on nuclear power approximately three years ago.
He noted that there had been advancements in media discussions on nuclear power, including better public education to dispel misconceptions and an increase in public trust in nuclear energy.