Gov’t Will Make ECG Financially Independent To Attract Investments – Jinapor

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Deputy Minister for Power, John Abdulai Jinapor, has stated that government was vigorously seeking to strengthen the Electricity Company of Ghana (ECG) financially to make it attractive to Independent Power Producers (IPPs) and investors, who are eager to invest in the power sector, but haven’t done so, due to uncertainties with ECG’s finances.

Mr Jinapor, who was speaking at the Partnership for Growth (Power Component) mid-term evaluation of Joint Country Action Plan (JCAP) between Ghana and the United States in Koforidua, said there was the need to revamp ECG and streamline their operations to enable them pursue innovative programmes and also enter into agreements “on their own balance sheet”.

Speaking to a delegations from power regulator entities and other stakeholders in the sector on efforts by government to mitigate effects of the power challenges on Ghanaians, the Deputy Minister, said 200,000 homes and shops have been targeted for the solar piloting project.

“So far we have identified some homes and SMEs across the country to install solar panels and back-ups with the aim of feeding the power which they would have hitherto consumed back into the national grid for other areas”, he added.

He further urged the US government to encourage investments into Ghana’s power sector, especially in coal fueled power plants as coal has proven to be cheaper and reliable source of fuel.

Partnership for Growth is a partnership between the United States Government and a select group of countries to accelerate and sustain broad based economic growth through engagement with governments, the private sector and civil society.

It also seeks to replace the traditional donor-recipient model of international development assistance with a partnership based on mutually-agreed upon actions and commitments.

The programme was attended by representatives from Volta River Authority, Ghana Grid Company, ECG, Northern Electricity Development Company, Ghana National Petroleum Corporation, Ghana National Gas Company, Public Utilities Regulatory Commission and the Energy Commission as well as delegation from USAID and US Government.

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