Eni Energy Group of Italy has signed an agreement with Ghanaian authorities for cooperation in the development of energy from renewable sources, a release issued here on Tuesday said.

The release from the External Communications Unit of the company on behalf of Eni Ghana said Memoranda of Understanding (MOU) to that effect were signed here on Monday between officials of ENI and Ghana.

In the company of Executive Vice-President of Eni Energy Solutions Luca Cosentino, the Managing Director (MD) of Eni Ghana, Giancarlo Ruiu, signed the two MOUs on Monday for his company while the Chief Executive Officer (CEO) of Bui Power Authority, Fred Oware, and the CEO of the Volta River Authority, Emmanuel Antwi-Darkwa, signed on behalf of their companies.

The MOU 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,” the release stated.

The two MOUs signed in the presence of Minister of Energy Boakye Agyarko are in line with the government of Ghana’s strategy that targets the increase in power generation from renewable energy sources to rationalize the use of energy and to expand the use of renewable energy sources as a component of the country’s energy mix They are also 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 while encouraging research into new sources of energy.

ENI is the operator of Ghana’s Offshore Cape Three Points (OCTP) Sankofa Oil and gas fields along the western shores of the West African country. Enditem

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