President Akufo-Addo Thursday met with the CEO of Eni, Claudio Descalzi, in Accra to discuss the role of the company in developing Ghana’s renewable potential.
The meeting which took place in the presence of the Minister for Energy also discussed Eni’s operational activities and the frontrunner role Ghana can play in the company’s partnership with UNDP.
It was on how to combine efforts on the development of renewable energy, energy efficiency, and forestry and clean cooking initiatives, starting in Africa.
This partnership aims at achieving the Sustainable Development Goals (SDGs) and specifically SDG 7 on affordable and clean energy, SDG 13 on climate actions and SDG 15 on land management and re-and/or afforestation, thanks to UNDP and Eni combined expertise, ability to innovate, and on-the-ground networks.
Improving access to energy, especially in Africa, is core to Eni’s values, and it is an intrinsic part of the Company’s business.
Currently, Eni invests more than half of its budget in Africa, boosting the domestic energy potential and promoting local development as they are already committed to the sustainable development of Ghana.
The $7bn investment in the integrated OCTP project represents Eni’s firm commitment to providing long-term domestic gas supply. Ghana’s OCTP project will deliver stable, secure, reliable, and affordable volumes of gas to feed Ghana’s power plants for over 20 years.
Research has proven that the use of domestic gas will allow Ghana to cut the use of liquid fuel, reducing CO2 emissions by 30%, and to limit the more expensive gas importation, whose entire value chain lies outside the country.
Also, Eni has allocated over $15m to an extensive program of sustainability initiatives including economic diversification education, water and sanitation, and health activities, and is engaged in the development of solar power projects in the Country including off-grid installations in remote areas and floating solar farms.
In the framework of the partnership signed between Eni and UNDP, a first area that will be developed together is a REDD+ (Reducing Emissions from Deforestation and Forest Degradation) initiative and Ghana is to be used as the model if measures put in place yield the needed results.
Community-based activities will be proposed in order to increase agricultural productivity, introduce agroforestry schemes, and generate revenue from non-timber forest products contributing to the diversification and development of the local economy.
Eni has been present in Ghana since 2009 through its subsidiary Eni Ghana, Operating the OCTP Integrated Oil & Gas Development Project (Eni 44.44%, Vitol 35.56%, GNPC 20%).