The Millennium Challenge Corporation (MCC) says even though it was expecting a private sector participant in the energy sector under the Power Compact deal, the decision by the government of Ghana to however cancel the Power Distribution Services (PDS) deal is welcomed.
As part of the deal, the government of Ghana was required to allow private participation to enhance efficiency.
Speaking a short ceremony after the 5-year compact deal end, the Deputy Chief Executive Officer of the MCC, Mahmoud Bah said his outfit respects the government of Ghana’s decision to cancel the PDS deal with the Electricity Company of Ghana.
“We fully agree that private sector PSP in the ECG is required in order for us to have a sustainable solution. You cannot continue to do things the way you do it. But we respect the decision of the government”
He stated that the government of Ghana committed to provide the funds expected from the private sector.
Touching on the successes of the deal, Mr. Bah said with the construction of two BSPs (the two largest of the country), two primary substations and other IT investments, the MCC-Ghana Power Compact has increased the transmission network capacity by 1,015 MVA representing roughly 10% of Ghana’s total transmission capacity and has successfully enhanced the country’s power sector.
He added that the new power substations directly serve the 37 Military Hospital, the Greater Accra Regional Hospital, the University of Ghana Medical Center, the Noguchi Memorial Institute for Medical Research, the National Mosque, and over 800,000 utility customers.
“This is great work! Further, the MCC-Ghana Power Compact established the Air Conditioner and Refrigerator Test Laboratory, the first of its kind in West Africa, to promote renewable energy sources and curtail the country’s use of low-quality, less energy-efficient equipment and appliances”.
He is hopeful the move will lower carbon emissions and advance Ghana’s mutual climate goals.
“The Compact activities also installed more than 14,000 new, energy efficient LED streetlights and new metered energy management systems, replacing old, inefficient lighting and setting a new standard for energy savings”.
Latest Stories
-
Paris 2024: Opening ceremony showcases grandiose celebration of French culture and diversity
3 hours -
How decline of Indian vultures led to 500,000 human deaths
4 hours -
Paris 2024: Ghana rocks ‘fabulous fugu’ at olympics opening ceremony
4 hours -
Trust Hospital faces financial strain with rising debt levels – Auditor-General’s report
5 hours -
Electrochem lease: Allocate portions of land to Songor people – Resident demand
5 hours -
82 widows receive financial aid from Chayil Foundation
5 hours -
The silent struggles: Female journalists grapple with Ghana’s high cost of living
5 hours -
BoG yet to make any payment to Service Ghana Auto Group
5 hours -
‘Crushed Young’: The Multimedia Group, JL Properties surprise accident victim’s family with fully-furnished apartment
6 hours -
Asante Kotoko needs structure that would outlive any administration – Opoku Nti
6 hours -
JoyNews exposé on Customs officials demanding bribes airs on July 29
7 hours -
JoyNews Impact Maker Awardee ships first consignment of honey from Kwahu Afram Plains
8 hours -
Joint committee under fire over report on salt mining lease granted Electrochem
8 hours -
Life Lounge with Edem Knight-Tay: Don’t be beaten the third time
8 hours -
Pro-NPP group launched to help ‘Break the 8’
8 hours