Ghana to receive over 1,450 MW of power
Ghana is to receive over 1,450 megawatts of power from being a beneficiary of President Obama’s Power Africa Initiative.
According to Ambassador Gene A. Cretz, United States Ambassador to Ghana, the momentum behind the Power Africa has already produced some tangible projects and many others including a number of “exciting U.S. investments”.
“I am pleased to report that the enthusiasm and momentum behind Power Africa have already produced some tangible projects and many more, including a number of exciting U.S. investments, are in the pipeline”.
“A number of companies are gaining serious momentum on some exciting projects. As you have heard, General Electric is preparing for a project that will add 1, 000 megawatts to the grid by its completion in 2018. Symbion Power is close to signing a Power Purchase Agreement with the government of Ghana for a project that will generate more than 450 megawatts of power. Other companies on this trade mission, like HPI and ECC, are making progress, and I hope the Secretary and I will soon be announcing deals that come out of the relationships built during this trade mission”, Ambassador Cretz stated.
The U.S. government, through a second Millennium Challenge Corporation (MCC) is also preparing a large grant to support Ghana’s power sector.
The grant, according to Ambassador Gene A. Cretz, is expected to be finalized by August 2014, barring any hitches or delays.
Ambassador Cretz said when finalized, the compact from the MCC will directly strengthen the power sector by improving reliability and service delivery. It would also help ensure a continuous and cost effective power fuel supply to Ghana.
“My government is preparing a large grant to support Ghana’s power sector through a second Millennium Challenge Corporation (MCC) compact focused on the power sector. When finalized, this compact will directly strengthen the power sector by improving reliability and service delivery and help ensure a continuous and cost effective power fuel supply. If momentum on the reform agenda continues, the MCC second compact could be finalized by August 2014”, Ambassador Cretz revealed.
Expressing his excitement about the Power Africa initiative, Ambassador Cretz also revealed other U.S. investments being made towards the power generation project to achieve the goals of President Obama’s Power Africa initiative.
In view of this, the United States government and the Ghanaian government have signed 2 Power Africa Memoranda of understanding between the two nations.
The MOUs lay out the mutual goals set for the Power Africa initiative, along with the commitments being made to ensure the success of the project.
They also highlight tremendous efforts by the two governments to ensure the investment climate in Ghana is able to absorb the significant investment that is primed to enter the market.
The MOUs make official the two governments’ joint objectives to increase the scale and quality of energy supply, improve operational efficiencies of the utilities and increase access to electricity in Ghana.
Speaking on the signing of the MOUs and its implication for the energy sector in Ghana, Honourable Emmanuel Armah-Kofi Buah expressed his hope that the move would solve Ghana’s energy crisis and enable the country to become a net exporter of power in the sub-region in the long run.
Vincent Baffour-Acheampong