The Ghanaian government is making efforts to involve the private sector in the operations of the Electricity Company of Ghana (ECG) in order to improve efficiency and ensure long-term sustainability.
The energy sector in Ghana is facing significant financial challenges, with an annual shortfall of approximately US$1.2 billion.
The government is implementing the Energy Sector Recovery Programme (ESRP) to address these challenges. As part of the ESRP, negotiations with Independent Power Producers (IPPs) are underway to renegotiate power purchase agreements.
Despite setbacks, negotiations with IPPs are progressing. Recent agreements have been signed with Cenit and AKSA, although parliamentary approval is still pending. Negotiations with Sunon Asogli have proven to be more complex.
The government is also focusing on reforms to improve the efficiency of the Electricity Company of Ghana (ECG). This includes investments in prepaid metering and commercial management.
Discussions with Karpowership have encountered challenges, and no funds will be disbursed until formal agreements are signed.
The restructuring agreements with Cenpower and Amandi Energy are pending parliamentary approval. These agreements are part of the government's approach to address systemic issues in the energy sector and create a more sustainable and efficient energy landscape.