Tag: IPP
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Ghana to save $ 7.2bn from 11 terminated power deals
Ghana is expected to save $7.217 billion from the termination of 11 Power Purchase Agreements (PPA) over a 13 year period, the Energy Minister, Boakye Agyarko has said. These terminations, following a recent review, will come at cost of $402.39 million, Mr. Agyarko told Parliament on Friday. As indicated by the government earlier in 2017, it was reviewing…
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Transparent power deals to reinstate World Bank guarantees – Analyst
Energy sector analysts want the government to be firm in adopting competitive bidding processes in power purchase agreements (PPAs) in order to regain financial guarantee support from the World Bank. The Director of Research at the Institute of Energy and Climate Change Policy, Dr. Philip Adom warns of unfavourable developments in the energy sector should…
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World Bank blames sole sourcing for Ghana’s high power costs
The World Bank has blamed Ghana’s relative high cost of power on the adoption of sole sourcing in the granting of power purchase agreements under the past NDC administration. The Bank has also warned of some economic consequences following the country’s inability to sell off its excess power due to the high cost. The World…
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Akufo Addo renews plans to reduce cost of power
President Nana Addo Dankwa Akufo-Addo, has re-emphasized his government’s resolve to protect consumers from high costs of power. He explains that though government is open to private participation in developing the energy sector, it is determined to do so within reasonable price charges. The President made the remarks when he cut the sod for the…
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Govt halts further processing of IPPs
Government has directed the Ministry of Power to halt the processing of application for Independent Power Plants in the country. The move is aimed at assessing the situation to determine the country’s future power demand. President John Mahama disclosed this in an address read on his behalf at the official launch of the Ghana Exim…