Ghana Power Report Q3 2015
BMI View: Increasing consumption rates, high transmission/distribution losses caused by ageinginfrastructure and frequent interruptions to supply are exacerbating Ghana's ongoing power crisis. A yearof low rainfall has affected hydropower output while shortages in gas supplies have impacted upon thermalpower production which, combined with inefficient management and project delays has resulted in frequentand lengthy power outages in Ghana. The energy crisis is impacting heavily upon economic growth andresulting in increasingly widespread, though peaceful, protests in the country.
Ghana's government is moving to improve energy security in the country, including making managementchanges to the state owned utility, the Electricity Commission of Ghana (ECG), and opening up to privateinvestment via Independent Power Producer (IPP) projects. There is also considerable scope for theexpansion of the renewables sector, particularly solar power, though funding remains scarce as investors aredeterred by an opaque regulatory environment. Over the long term, diversifying the energy mix to reducedependence on hydropower, including potentially developing nuclear power, will be vital to ensuringGhana's current power crisis is not repeated.
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