Requires USD 4 bn in investment over the next 10 years in Generation, Transmission & Distributio
Power demand growing at 12% pa
Target of 10% power generation from Renewable Energy
In February 2015, His Excellency,the Hon'ble President of Ghana, Mr. John Mahama, announced an addition of 3,665 MW of generation capacity over the next 5 years, doubling existing capacity.
Envisagedaddition will come from Independent Power Producers including GE and Norway's Jacobsen and the state-owned Volta River Authority (VRA), Ghana's primary power producer and supplier.
Of the total 10% envisaged from RE sources, 6% will come from solar, the 155 MW Nzema solar plant to be commissioned in 2016. The plant will bring electricity to 100,000 rural households.
In the short term, the government has already commissioned 450 MW from the Turkish Karadeniz Energy Group (Karpower International).
Increasing urbanization (60% of the population expected to be urbanized by 2020) means expanded electricity reach, opening up new opportunities for investors.
There are wide-ranging opportunities for private investment in the energy sector in the form of IPPs and under Feed-in-Tariffs for renewable energy projects. The target of 5,000 MW by 2015/16 coupled with the estimated requirement of an additional 4,000 MW of capacity over the next 20 years, will require significant foreign investment, private capital, and technical expertise.
Given the pressing need for investment, the government is already turning towards the private sector for financing, ownership and management of facilities.
Opportunities are coming up in reducing system losses and improving efficiencies in generation, transmission and distribution, including next-gen generation technologies, improved transmission systems, superconducting materials, development of energy infrastructure as well as demand side management (DSM) measures to improve last mile efficiency.
As an exporter of electricity, Ghana is the hub for several transnational transmission lines envisaged for the region. Business prospects for vendors for a variety of electrical and power electronic equipment are opening up with the transmission and distribution system expansion.
With the modernization of power sector, advanced technologies are now playing major role. Automation using Power electronics and digital technology in Power management including SCADA, Digital remote metering for better revenue, grid management to ensure power quality and uninterrupted availability are employed. Power with automation as a subset will substantially improve availability and quality of power to people of Ghana, improving their everyday life.