President Nana Addo Dankwa Akufo-Addo has announced that his administration successfully maintained the energy sector legacy debt at $2.5 billion—the same level inherited from the Mahama administration.
Delivering his final State of the Nation Address in Parliament, the President highlighted the decisive actions taken to avert a potential $12.5 billion debt scenario projected by the Energy Sector Recovery Programme (ESRP).
The programme, developed in collaboration with the World Bank, warned that without intervention, the rising costs of energy production and global economic challenges could cripple the sector.
“We knew that such a scenario would undermine investor confidence and plunge the nation back into darkness,” President Akufo-Addo stated.
Through strategic negotiations with Independent Power Producers (IPPs), prudent financial management, and targeted interventions, the government stabilized the sector while ensuring consistent power supply.
“I am pleased to report that the energy sector has truly been transformed, and I leave office in 2025 with the lights on,” he remarked confidently.
Progress in electricity access and renewable energy
The President also noted a significant increase in electricity access, which rose from 79.3% in 2017 to 88.85% by the end of his tenure.
On renewable energy, the administration completed key projects, including a 4MW floating solar PV at Bui and a 15MW solar PV at Kaleo. Additionally, a 100MW solar PV plant under construction at Bui and the Mini-Grid Electrification Programme in Ada East are advancing efforts to achieve a 10% renewable energy target by 2030.
“These milestones reflect our commitment to a sustainable energy future,” the President concluded.
