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Neill_58630 Jul 07

Powering Africa Summit - Country Spotlight: Ghana

Powering Africa Summit -  Country Spotlight: Ghana image
This was a follow-up discussion from EnergyNet's first Country Spotlight: Ghana, which took place online on 11th May 2021, with the Energy Sector Recovery Programme being focused on and how it can create long-term stability in the energy sector.
Ghana’s energy sector is at a fork in the road, driven by impending decisions around regulatory frameworks, new models and mechanisms, the PPA landscape, the lure of private investment, digital opportunity, and how to find innovative ways to capitalise on power excess.

At this juncture, much of the country’s – and indeed region’s – attention is being turned towards the Electricity Company of Ghana. PPAs are already in the process of being renegotiated, with company representatives reporting that partnerships with investors during this process are still positive and encouraging.

They are also keen to remain positive despite the new national waterfall mechanism that has been introduced to give stakeholders outside of ECG power when it comes to collections. This intention to offset fears over existing arrears in a more transparent way has been a challenge, but with more favourable revisions mooted, it is hoped that there will be “smiles on all faces shortly”.

Another core challenge for the country moving forward is to find new and innovative ways to “mop up” excess power, while simultaneously elevating renewable initiatives and veer away from fossil fuel usage.

To this end, one exciting example of progress is the Energy Commission’s electric vehicle drive. Initially launched in 2019, conversations since have spurred interest from car manufacturers from both a vehicle production perspective and a charging station development point of view.

In alignment with this, and similar, renewables-based initiatives; Ghana’s new-look energy structure looks to open itself up more lucratively to private sector investments, to regional cooperation, to digitisation across the full value chain, and to countrywide energy access in the very near future.