Green Energy Project and Environmental Value: The Mediating Role of Green Procurement Policy

Given the growing global concern about sustainability, green energy has emerged as a key pathway to protecting the environment and ensuring economic stability. The study examined the mediating role of green procurement policy in the relationship between green energy projects and environmental value for Independent Power Producers (IPPs) in Ghana. The study was explanatory and quantitative in nature and underpinned by Stakeholder Theory and Resource-Based View. The study included 153 respondents selected from various IPPs and data collected from them using structured questionnaires. Structural Equation Modelling (SEM) with AMOS was used to analyse data. Results showed that green finance and technology adoption have a significant impact on environmental value, while green procurement policy has a strong positive influence on it. Moreover, green procurement policy was found to partially mediate the relationship between green finance and technology adoption and green value. The study finds that implementation of green procurement systems facilitates the utilization of financial resources and technology to support environmental sustainability in the Ghanaian energy sector. It highlights the urgent need for policies and industry leaders to implement sustainable financing, technology innovation and green procurement as a way of paving the way for Ghana's green energy transition.