Accra, 13 February 2018 - The Managing Director of Eni Ghana Giancarlo Ruiu has signed yesterday, at the presence of the Minister of Energy Hon. Boakye Agyarko and of the Executive Vice President of Eni Energy Solutions Luca Cosentino, two separate MOUs with the CEO of the Bui Power Authority Fred Oware and the CEO of the Volta River Authority Emmanuel Antwi-Darkwa, on the joint development of power generation from renewable sources.

The Memorandum of Understanding signed with the Volta River Authority is aimed at developing solar energy projects on the Volta Lake through the deployment of floating solar energy technologies, whereas the Memorandum signed with the Bui Power Authority is aimed at developing renewable energy projects to be implemented in the Northern Region within the Bui Power Enclave. In both cases the initiatives would have utility scale, would result in a reduction of the level of CO2 emissions and the creation of economic value for the country and local stakeholders.

These activities are in line with the Government of Ghana’s strategy that targets the increase in power generation from renewable energy sources, in order to rationalize the use of energy and to expand the use of renewable energy sources as a component of the country’s energy mix. Also, they are part of Eni’s long-term business strategy to contribute to the transition of energy towards a low-carbon future, which involves promoting the growth of renewable sources and supporting their more extensive use in the countries where it operates, while encouraging research into new sources of energy.

Eni Ghana was established in 2009, and currently operates two blocks, namely the Offshore Cape Three Points license (oil and gas development leases) and the Cape Three Points Block 4 exploration license. Eni Ghana has successfully established a fruitful partnership with the Government of Ghana, becoming one of the major operators in the country committed to significant investments in the petroleum sector.