The Deputy Minister of Energy and Green Transition, Mr Richard Djan-Mensah, has assured investors of a reliable and sustainable power supply, particularly within industrial enclaves.
He said the government was directing all available resources into strengthening efficient energy supply systems to support economic growth.
Speaking at the 60th Annual General Meeting of the Association of Power Utilities of Africa (APUA) in Accra yesterday, Mr Djan-Mensah indicated that about GH¢1.4 billion had been spent to clear legacy debts owed to Independent Power Producers (IPPs).
He added that electricity access had reached about 89 per cent, while installed generation capacity had exceeded 5,300 megawatts, with dependable capacity of more than 4,700 megawatts. Transmission availability, he underlined, remained high at about 99.5 per cent.
According to him, these figures reflected the country’s growing capacity to deliver stable and sustainable power.
Mr Djan-Mensah explained that the improvements had translated into tangible benefits, with businesses enjoying more reliable electricity, hospitals operating without disruption, and livelihoods improving due to ongoing financial reforms in the energy sector.
He disclosed that the government had secured more than $250 million in savings through the renegotiation of Power Purchase Agreements (PPAs) and restored the $500 million World Bank partial risk guarantees for key gas projects.
He further noted that the sector’s cash flow had improved significantly, with current payments rising from GH¢6 billion to over GH¢150 billion.
Additionally, Mr Djan-Mensah noted that the Volta River Authority (VRA) continued to supply nearly 2,550 megawatts from its mix of hydro, thermal and renewable sources, while the Ghana Grid Company Limited (GRIDCo) operated more than 5,100 kilometres of high-voltage transmission infrastructure.
He acknowledged that the government inherited a challenging energy sector burdened with high IPP debts but said ongoing negotiations had enabled the settlement of about 70 per cent of those legacy obligations.
The Director-General of the Association of Power Utilities of Africa, Mr Abel Didier Tella, called on African leaders to scale up investment in the energy sector in order to ensure a more efficient and reliable power supply for industry.
He cautioned that Africa’s ambition to become an industrial hub would remain difficult to achieve if power supply challenges persisted, stressing that sustained investment in energy was critical to the continent’s development.
The Chief Executive Officer of the Volta River Authority, Mr Edward Obeng-Kenzo, said stronger collaboration among African energy institutions would enhance the continent’s power systems.
He indicated that better interconnection would allow electricity to flow more efficiently from areas of surplus to areas of need.
Mr Obeng-Kenzo urged African countries to pursue a balanced clean energy mix, noting that renewable energy could expand access, improve affordability and build resilience, while also providing reliable, low-carbon power to stabilise national grids and support industrial growth.
BY BERNARD BENGHAN
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