• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Energy

$30m Renewable Energy Project Stalled Amid Allegations of Rent-Seeking

11 months ago
in Energy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
154
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

$30m Renewable Energy Project Stalled Amid Allegations of Rent-Seeking

A foreign investor, having already committed $30 million to feasibility studies for renewable energy projects in Ghana, is reportedly encountering significant regulatory and bureaucratic challenges.

The challenges revealed by Dr. Steve Manteaw, Chairperson of the CSO Alliance on Political Manifestos, highlight broader concerns about governance and the business environment in the country’s energy sector.

Speaking on TV3’s NewDay program on Tuesday, November 19, 2024, Dr. Manteaw stated that the investor has faced persistent demands for bribes and equity stakes in exchange for essential regulatory approvals.

“The investor expressed frustration over the rent-seeking culture within the current government, which has effectively stalled progress on the project,” he said.

A Hostile Investment Climate

The investor’s plight, according to Dr. Manteaw, is emblematic of a wider perception of Ghana as a difficult place to do business, particularly in sectors requiring heavy regulatory oversight.

RelatedPosts

Domestic Debt Surpasses External Debt for the First Time in Years

Aliko Dangote Becomes the First African to hit the $30 Billion Mark

GoldBold Opens Licensing for Jewellery, Fabrication and Refinery

“The entire investment environment in Ghana is seen as very hostile, with complaints of extortion and bureaucratic inertia prevalent across the industry,” he noted.

Such issues stand in stark contrast to Ghana’s ambitious renewable energy goals, with the ruling New Patriotic Party (NPP) pledging to add 2,000 megawatts of renewable energy capacity to the country’s energy mix.

He described the goal as “overly ambitious,” noting that renewable energy currently accounts for just 1% of Ghana’s energy mix, far short of the 10% target set by the government.

“To scale up renewables to such an extent suggests generating more power from renewable sources than from fossil fuels which is a near impossibility given our current infrastructure and policy framework,” he argued.

The investor’s stalled project underscores the disconnect between Ghana’s green energy ambitions and the structural issues that continue to plague its energy sector. With global investors increasingly seeking sustainable projects, he warned that Ghana’s inability to align its policies with international best practices could leave the country trailing in the renewable energy race.

“To attract the scale of investment required, Ghana must overhaul its regulatory framework, tackle rent-seeking practices, and create a genuinely enabling environment for renewable energy investors,” he noted.

Structural Reforms Urged

Speaking further during the panel discussion, Dr. Manteaw underscored the need for comprehensive reforms to address regulatory bottlenecks and attract private-sector investment into the renewable energy sector.

He cited the absence of a net metering framework as a critical shortfall, which discourages individual and institutional adoption of solar energy by failing to compensate for excess power fed into the national grid.

He also called for differentiated tariffs for renewable energy and fossil fuel-generated electricity, arguing that a uniform pricing structure undermines the competitiveness of the renewable energy sector.

 

Tags: $30m Renewable Energy Project$30m Renewable Energy Project Stalled Amid Allegations of Rent-Seeking

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

IMF Managing Director Appoints Christian Mumssen as Director of the Strategy, Policy, and Review Department

Ethiopia’s Gold Rally Fuels Confidence in Stronger Currency

Senegal’s 2026 Debt Bill Jumps 11% After Hidden Loans Scandal

PIAC yet to see Restoration of Funding Under ABFA Despite Assurance from President Mahama

GSE Closes Slightly Lower as Composite Index Falls 0.25%

Producer Price Inflation Rises Marginally to 3.2% in September 

Trending

Business

Domestic Debt Surpasses External Debt for the First Time in Years

October 23, 2025

Domestic Debt Surpasses External Debt for the First Time in Years Ghana’s domestic debt stock has exceeded...

Aliko Dangote Becomes the First African to hit the $30 Billion Mark

October 23, 2025

GoldBold Opens Licensing for Jewellery, Fabrication and Refinery

October 23, 2025

IMF Managing Director Appoints Christian Mumssen as Director of the Strategy, Policy, and Review Department

October 23, 2025

Ethiopia’s Gold Rally Fuels Confidence in Stronger Currency

October 23, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.