Government has substantially completed a renegotiation and restructuring exercise of Power Purchase Agreements (“PPAs”) with 6 operational Independent Power Producers (“IPPs”), namely, Karpower, Cenpower, Early Power, Twin City Energy (formerly Amandi), AKSA Energy and CENIT Energy, Finance Minister, Kek Ofori-Atta stated in the 2023 Budget and Economic Policy.
This is part of efforts to ensure power is affordable for industrial, commercial and residential use.
Also, government has pursued cost-cutting and green initiatives, including conversion to a tolling model, refinancing of expensive debt, profiling of tariffs and switching power plants from imported liquid fuel to locally produced natural gas as primary fuel.
On connectivity to the national grid, a total of 157 communities were linked to the national grid as of September 2022.
To this end, the Ministry of Energy will further connect an additional 400 towns under the SHEP-4, SHEP-5 and Turnkey Projects in 2023.
Latest Stories
-
Black Stars could miss key players for 2025 Unity Cup – Dr Randy Abbey
3 hours -
Pyramids grab late equaliser in African Champions League final
4 hours -
EU calls for ‘respect’ after Trump threatens 50% tariffs
4 hours -
Ronaldo ‘could play’ in Club World Cup – Infantino
4 hours -
Amorim tells Garnacho he can leave Man Utd
4 hours -
Djokovic makes more history with 100th singles title
4 hours -
Ten Hag set to replace Alonso as Leverkusen manager
4 hours -
Salis’ Sunderland secure Premier League return
5 hours -
Assin Fosu chiefs and elders bless TGMA Unsung Artiste of The Year, Yaw Darling
5 hours -
Middle-aged, 2 children trapped in their home after a fig tree sealed their frontage doors
6 hours -
Roots of resistance: The climate cost of cutting Accra’s trees
6 hours -
Reimagining Informality: Harnessing the Urban potential of street vending in Ghana
7 hours -
Former Yendi MP Dr Farouk Mahama donates towards funeral of late Mion chief
7 hours -
Ghana Gas board pledges accountability and staff support during operational tour
7 hours -
Burkina Faso’s uprising is a rebirth, not rebellion – Ras Mubarak
7 hours