Skip to main content

President hails private sector involvement in power generation



By: Fred Yaw Sarpong
 
President John Mahama has hailed the private sector's involvement in power generation in the country, saying the involvement of Independent Power Producers (IPPs) in the sector has brought a lot of improvement.
The president said this when he inaugurated a 165 MVA substation wholly financed by the  Enclave Power Company,  which is  the first private sector owned substation in electricity distribution in Ghana.
Congratulating the company for taking the bold decision to join the energy  sector, President Mahama said the participation of the company in power distribution in Ghana is  consistent with Government’s objective of ensuring reliable power supply to industrial as well as domestic consumers for the socio-economic development of Ghana.
‘Enclave Power is a private entity and has the concession to distribute power in the Free Zones enclave and they have been doing this since 2009,’’ he noted.
President Mahama explained that allowing private sector participation in concessions and the distribution of power does not mean government is privatising the  Electricity Company of Ghana (ECG).
 ‘‘ECG is still a 100% government owned entity and will remain a 100% government owned entity but nothing in our regulations stops private sector participation in managing concessions to distribute power to customers and give them efficient service than we have had in the past,’’ he explained.
He said private sector participation in many areas hitherto monopolised by government is being encouraged. This, he said is leading to increased investment from the financial sector and the capital market and it is introducing efficiency into the operations in those sectors.
He promised that government will continue to partner the private sector to ensure that reliable power is supplied sustainably for the development of the country.
 ‘‘The power supply challenge we are currently going through is affecting both industrial and domestic activities. And as Ghanaians have been informed, we are working tirelessly to ensure that we address these challenges sooner than later. We are making progress in overcoming the power gap. Increasingly power is being fed into the grid and over the last few weeks at least some 200 new megawatts have been fed into the system. We will continue to increase the power that is being fed into the system until the gap is eliminated,’’ he stated.
The Enclave Power sub-station was designed by a team of Ghanaian engineers  with  the actual construction work carried out largely and predominantly by a Ghanaian work force, working alongside engineers from China, Bulgaria and India. The cost  of the  construction  of  the substation is estimated to be about  US$35 million. 

Comments

Popular posts from this blog

Deputy AG sues Facebooker over 'malicious' Ameri deal

The Deputy Attorney-General and Member of Parliament for Bolgatanga East, Mr Dominic Ayine has filed a defamation suit at an Accra High Court against a Facebook commentator, Evron Hughes.
In Mr Ayine’s statement of claim, sighted by Graphic Online, he accused Mr Hughes of defaming him in a post he authored and published on Facebook on December 21, 2015, titled “RE: AMERI TRANSACTION”.
According to the Deputy A-G, the “false and malicious” post has provoked “public disaffection” against him and exposed him to public ridicule and contempt.
Describing Mr Hughes as a “self-styled social media blogger and a social commentator”, Mr Ayine said the Facebook post had brought his hard-won reputation “as a respected politician, teacher and lawyer” into “hatred, ridicule, odium, discredit, contempt, opprobrium and reproach”.
The Deputy A-G said the “defamatory words” were authored with the sole intent to reduce him in the estimation of all right thinking Ghanaians, adding that he had received numerou…

PIAC told to go to court to enforce recommendations

By: Fred Yaw Sarpong
sarpong007@gmail.com

The Public Interest and Accountability Committee (PIAC), the mandated body to monitor the use of Ghana’s oil revenues has been asked to go to court to seek strict compliance of the laws covering accountability of oil funds in the country.

According to Dr. Steve Manteaw, the Campaign Coordinator for ISODEC and a member of the PIAC , it’s time for PIAC as a body to consider going to court to compel institutions responsible for managing Ghana’s oil revenue to answers some questions concerning the expenditure of oil funds.

He pointed out that there are several recommendations made by the PIAC in its past reports on management of petroleum revenues, and a lot of these recommendations has received no positive response from the institutions concerned.

He disclosed this to the Daily Express at a three-day workshop on Interrogating the 2016 Semi Annual PIAC Report at Koforidua in the Eastern Region.

The workshop was organized by the Institute of Financ…

BoG shuts down two financial institutions

The Bank of Ghana has closed down two financial institutions in the country. This was after the central bank investigation revealed that the two companies were operating without approval.

The two companies were Agro Development Fund Services Limited (ADFSL) and Hebron Financial Investment Limited (HFIL).

The Daily Express gathered that the ADFSL was asked to stop operating after the central bank realized the institution had not been licensed to take deposit from the public.

A statement from BoG said the ADFSL continued to operate despite the orders from the Bank of Ghana. It however closed down ADFSL’s operation until further notice.

The Bank of Ghana said that the ADFSL is located at Asufufu, opposite the Sunyani Traditional Council in the Brong Ahafo region.

“The decision to close down ADFSL is in furtherance of section 20(2) (g) of the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930). Bank of Ghana has investigated ADFSL thoroughly and has concluded that its a…