The World Bank Group is urging stronger collaboration between government and the private sector to drive energy sustainability in Ghana. The Group says, this is critical for expanding renewable energy, and creating new economic opportunities.

Speaking during an International Finance Corporation-led visit to the LMI rooftop solar installation—the largest in Africa, Managing Director and Chief Knowledge Officer of the Bank, Paschal Donohoe highlighted the importance of private investment in boosting the country’s energy capacity.

“That virtual circle is with the government and the private sector working together to further build the renewable energy capacity of the economy of Ghana. By doing that, that improves your energy security and all of the work that I have seen here is to the long-term benefits of the economy of Ghana as well.” he said.

He added that : “This will create jobs, create additional tax revenue and we want to partner with the private sector here in Ghana and with the government of Ghana to ensure that the entrepreneurial spirit and the technical expertise that we have seen here is supported to deliver a benefit to the people of Ghana.”

For his part, the CEO of LMI Holdings, Kojo Aduhene, called for a more favourable regulatory environment to support renewable energy projects and attract additional private investment.

“The regulatory environment, we need it to be more accommodating, to allow the private sector to play a bigger role. If you look at the energy space at the moment, you’ve got the public sector in a commanding position. I think the private sector must be allowed to come in and must be allowed to grow,” he stated.