Power Africa in Ghana

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Power Africa has supported the development of 550 megawatts (MW) of electricity generation projects in Ghana. In addition, various firms have received U.S. Embassy support to move transactions forward. The page below gives an overview of the energy sector in Ghana, explains Power Africa's involvement and lists Power Africa’s financially closed transactions in the country, some of which are already online and generating critical electricity supply for the people of Ghana.

GHANA ENERGY SECTOR OVERVIEW


Population: 29.77 million | GDP (1): $65.56 billion

Ghana aspires to industrialize, modernize its agriculture, and provide economic opportunities for its growing population of nearly 30 million. One of key constraints to this vision is its unreliable and costly supply of electric power, and the sector’s significant financial deficit. Ghana currently has over 5,300 MW of installed generation capacity, though actual availability rarely exceeds 2,400 MW due to changing hydrological conditions, inadequate fuel supplies and dilapidated infrastructure. With a significant endowment of natural gas and renewable energy to generate electricity Ghana is poised to overcome these constraints.

GENERATION CAPACITY

  • Total Installed Capacity (2): 5,326 MW

    • Hydro: 1,580 MW
    • Natural Gas, other: 2,070 MW
    • Liquid Gas: 69 MW
    • Solar: 63 MW
    • Bio: 6.4 MW
    • Diesel: 335 MW
    • Crude Oil: 700 MW
    • HFO: 400 MW

Power Africa new MW to date at financial close: 550 MW

CONNECTIONS

  • Current Access Rate (3): 84%
    • Urban: 93%
    • Rural: 73%
  • Power Africa new connections: 170,619
 

 

POWER AFRICA SUCCESS STORIES IN GHANA


Improving the Financial Stability and Environmental Sustainability of Ghana’s Energy Sector

Power Africa’s support to the Ministry of Energy in Ghana helped to significantly reduce the cost of electricity generation in the country by 19% - leading to a milestone savings of over $1 billion over 5 years. READ more on our blog

POWER AFRICA FINANCIALLY CLOSED TRANSACTIONS IN GHANA


Updated: May 2, 2019

Kpone Independent Power Plant (Natural Gas – 350MW)

Financial Close Date: 12/23/2014  
Commercial Operations Date: TBD
Estimated Project Cost: $900M
Overview: Cenpower Generation Company Limited is a Special Project Vehicle (SPV) created to develop the Kpone Independent Power Plant (Kpone) in the Tema industrial zone. The 350MW CenPower Kpone Gas project in Ghana has turbines installed by General Electric. Kpone will account for approximately 10 percent of Ghana’s total installed capacity and approximately 15 percent of its available thermal generation capacity. As a Combined Cycle Gas Turbine plant, it will be amongst Ghana’s most fuel-efficient thermal power stations and once in production, the power plant will become a critical base-load component in meeting Ghana’s growing electricity demand.As the lead USG agency on this project, USAID provided transaction support to the Electricity Company of Ghana. Several Power Africa partners were involved in financing the deal.


Amandi Energy (Natural Gas – 200MW)

Financial Close Date: 12/14/2016  
Commercial Operations Date: 4/30/2019
Estimated Project Cost: $552M
GPS Coordinates: Lon / °-1.666  Lat / °4.982     Elev / m16
Overview: The Amandi Power project is demonstrative of Power Africa’s  partnership-driven approach, with numerous Power Africa private sector partners involved. Power Africa partners and non-partners provided commercial debt, with Aldwych International and the Texas-based, Endeavor Energy as project sponsors. A U.S. based company currently serves as the engineering,  procurement and construction provider for the contract; and private equity funds provide equity backing to the sponsors. USAID played a role in convening the private sector stakeholders and being the coordinating interface with the Government of Ghana. The US Government's Overseas Private Investment Corporation provided debt and insurance, and the Millenium Challenge Corporation through a $498 million Ghana Power Compact is transforming Ghana's power sector and crowding in private capital.


Sources

  1. https://data.worldbank.org/country/ghana 
  2. https://www.africa-energy.com/database/datatool
  3. https://www.iea.org/reports/sdg7-data-and-projections/access-to-electricity

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Last updated: October 05, 2021

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