PURC to introduce special tariffs to boost investment in renewable energy sector
The Public Utilities Regulatory Commission (PURC) is to introduce special tariffs to encourage investment in the renewable energy sector.
Known as the Renewable Energy Feed-in-rates Scheme, the special tariff regime is intended to stimulate investment in the renewable energy sector to boost the country’s energy generation mix.
The scheme, which will be implemented by the PURC, in collaboration with the Energy Commission and the Ministry of Energy and Petroleum, is in line with the Renewable Energy Act 2011 (Act 832).
The Director of Public Relations and External Affairs at the PURC, Nana Yaa Jantuah, made this known at a two-day capacity-building workshop organised by the PURC for selected journalists at Akropong in the Eastern Region.
The Renewable Energy Act mandates the PURC to set preferential guaranteed rates known as feed-in-tariff (FIT) for renewable energy.
The law also seeks to introduce small to medium hydro, solar, wind, biomass and waste-to-energy generation options, in addition to conventional sources such as large hydro and thermal systems.
It further aims at promoting transparency, consistency and predictability in the pricing of electricity generated and supplied from renewable energy sources.
The act further guarantees the FIT for a 10-year period to enable investors to recoup cost associated with construction, commissioning, operation and maintenance of plants before being reviewed every two years.
The FIT rate is expected to be gazetted by the PURC and published in at least one national daily.
Nana Jantuah said the key objective of the Renewable Energy Feed-in-rates Scheme was to also ensure availability of and access to electricity by consumers at all times.
The Executive Secretary of the PURC, Mr Samuel Sarpong, stated that the training was necessary, as journalists ought to be well informed to be able to educate the public better on the FIT scheme.
“The introduction of renewable energy technology will supplement the existing energy generation from conventional sources, although it is not a panacea to the current energy crisis we are facing as a country,” he said.
He expressed the hope that the implementation would encourage more investment in the sector, as the government and independent power producers made strides to solve the numerous challenges facing the country’s power sector.
Story: Della Russel Ocloo
Writer’s email: della.russel@graphic.com
