Ghana seeks $1.5billion to address power woes

Volta River Authority

Volta River Authority

from RUSSELL ADADEVOH in Accra, Ghana
ACCRA – GHANA requires $1,5 billion to address continued electricity deterioration in the country, a senior official has said.

Ghana’s electricity generators, which heavily depended on gas from Nigeria to provide adequate power supplies across the nation are experiencing difficulties in that they have been cut off the grid by Nigeria under unknown reason.

This resulted in erratic power supply, a development that impacted negatively on the country’s industry, households and government departments.

Announcing the development, Volta River Authority (VRA) Head of Corporate Communications, Samuel Fletcher, said once funds were raised, the scarcity would be resolved.

Fletcher said the current loadshedding being experienced by members of the public, industry and consumers in general could be easily addressed when the funds were made available.

He said partners in the electricity investment, which includes the government, banks and other financial institutions were contributing towards the power generation, but hinted that the amount was not enough.

“Today if you give me $1,5 billion I’m sure we will be able to move our power system a little forward.

“What we need to do is to plug your deficit, the mole which is causing the load shedding and if you can have a half a billion to fix that and another half a billion to build your reserve – 25% of your reserve.

“The other half a billion dollars for fuel security,” Fletcher said.

– CAJ News






Short URL:

Posted by on Nov 18 2014. Filed under Electricity, Exclusive, Featured, Finance, Finance & Banking, News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Connect to CAJ News on Facebook

Subscribe to our Newsletter

Photo Gallery

Log in
All material © CAJ News Africa. Material may not be published or reproduced in any form without prior written permission.