The Board of Directors of the African Development Fund has approved a grants package worth $23.36 million to bring clean and reliable electricity to the city of Bosaso, Somalia. The Rehabilitation and Expansion of Bosaso Power Grid and Strengthening of Energy Sector Institutions project, funded through the African Development Fund ($9.62 million) and the Transition...
Author: Energy Crossroad (Energy Crossroad)
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Tema Oil Refinery officially resumes operations
The Tema Oil Refinery (TOR) has restarted crude oil refining operations after several years of inactivity, marking a major step in efforts to revive Ghana’s downstream petroleum sector. The resumption follows the successful completion of extensive Turnaround Maintenance (TAM) works on the refinery’s Crude Distillation Unit (CDU), carried out between August 1 and October 30,...
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Public Ownership Won’t Cure Power Market Volatility
There are at least two places, San Francisco and the mid-Hudson Valley in New York, where political activistss are currently advocating for a public takeover of the local investor-owned utility. Pacific Gas and Electric is owned by utility holding company PG&E Corporation and the service territory of the former Central Hudson Gas & Electric Company...
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National Oil Companies Quietly set the Pace for the Next Decade
The prevailing structural theme right now is that national oil companies (NOCs), in some cases and across some segments, are moving faster than the majors, outspending them, beating them in locking up supply chains, and building cash cows faster for the future. You can see it directly in upstream spending trends highlighted by the IEA...
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US, Russia Allegedly Discuss Nuclear Plant Crypto Mining
Russian media claimed on Friday that the Trump administration held talks with Russia over joint management of Ukraine’s Zaporizhzhia Nuclear Power Plant, including the potential to use its power for crypto mining, Russian newspaper Kommersant has revealed. The discussions, which have not been independently confirmed, were allegedly held without Ukraine’s participation, and likewise proposed resuming...
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Gov’t targets 99.9% electricity access by 2030 – Deputy Energy Minister
Government has reaffirmed its commitment to achieving near-universal access to electricity, pledging to raise the national access rate from the current 89.03 per cent to about 99.9 per cent by 2030. Deputy Minister for Energy and Green Transition, Richard Gyan Mensah, said the goal is central to accelerating socio-economic development, particularly in underserved communities. Government...
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Deputy Energy Minister Inspects 141MW AKSA Power Plant at Anwomaso in the Ashanti region.
The Deputy Minister of Energy and Green Transition, Richard Gyan-Mensah, on behalf of the Sector Minister, Dr. John Abdulai Jinapor, has led a working visit to the 141-megawatt AKSA Power Plant at Anwomaso to inspect ongoing commissioning works. The visit forms part of the government’s broader efforts, under the leadership of President John Dramani Mahama,...
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ECG to be privatised – IMF reveals in Staff Report.
The Electricity Company of Ghana is expected to be taken over by a private sector player going forward, the International Monetary Fund (IMF) has revealed.In its Staff Report on Ghana, the Bretton Woods institution stated that “by the end of 2025, a transaction advisor is expected to be hired to oversee the selection process for...
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Energy sector shortfall persists; to balloon to US$1.10bn in 2026 – IMF
Despite marked improvements, the energy sector shortfall persists, the International Monetary Fund has disclosed in its Staff Report on Ghana. In 2025, the energy sector shortfall was over US$500 million. According to the IMF, this was assumed by the government, either through legacy debt payments or fuel purchases. While this is significantly below the budgeted...
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Russia plans to build a nuclear power plant on the Moon next decade
Ever since Soviet cosmonaut Yuri Gagarin became the first human to go into space in 1961, Russia has prided itself as a leading power in space exploration, but in recent decades it has fallen behind the United States and, increasingly, China. Russia’s ambitions suffered a massive blow in August 2023 when its unmanned Luna-25 mission...