Eni to step up cooperation in renewable energy in Ghana

Eni Ghana has signed two separate MOUs with the Bui Power Authority and the Volta River Authority for a joint development of power generation from renewable sources.

The MOU signed with the Volta River Authority aims to develop solar energy projects on the Volta Lake through the deployment of floating solar energy technologies, whereas the MOU signed with the Bui Power Authority is aimed at developing renewable energy projects to be implemented in the Northern Region within the Bui Power Enclave.

In both cases the initiatives would have utility scale, would result in a reduction of the level of CO2 emissions and the creation of economic value for the country and local stakeholders.

Managing Director of Eni Ghana, Giancarlo Ruiu; the CEO of the Bui Power Authority, Fred Oware; as well as the CEO of the Volta River Authority, Emmanuel Antwi-Darkwa all signed on behalf of their respective institutions. Also present at the signing was the Executive Vice President of Eni Energy Solutions, Luca Cosentino.

A statement by Eni Ghana said the projects are in line with the Government of Ghana's strategy that targets increase in power generation from renewable energy sources in order to rationalize the use of energy and to expand the use of renewable energy sources as a component of the country's energy mix.

“Also, they are part of Eni's long-term business strategy to contribute to the transition of energy towards a low-carbon future, which involves promoting the growth of renewable sources and supporting their more extensive use in the countries where it operates, while encouraging research into new sources of energy.”

Eni Ghana was established in 2009, and currently operates two blocks, namely the Offshore Cape Three Points license (oil and gas development leases) and the Cape Three Points Block 4 exploration license. Eni Ghana has successfully established a fruitful partnership with the Government of Ghana, becoming one of the major operators in the country committed to significant investments in the petroleum sector.

Eni, the parent company of Eni Ghana, is an integrated energy company with a global presence, committed to grow in the activities of exploration, production, transportation, transformation and marketing of oil and gas and production of electricity.