1-3 September 2016 Ghana–Accra
International Power, Electrical & Electronics Expo
In February 2015, His Excellency, the Hon’ble President of Ghana, Mr. John Mahama, announced an addition of 3,665 MW of generation capacity over the next 5 years, doubling the existing capacity.
Envisaged addition will come from Independent Power Producers including GE and Norway’s Jacobsen and the state-owned Volta River Authority (VRA), Ghana’s primary power producer and supplier.Of the total 10% envisaged from RE sources, 6% will come from solar, the 155 MW Nzema solar plant to be commissioned in 2016. The plant will bring electricity to 100,000 rural households.
In the short term, the government has already commissioned 450 MW from the Turkish Karadeniz Energy Group (Karpower International).
Increasing urbanization (60% of the population expected to be urbanized by 2020) means expanded electricity reach, opening up new opportunities for investors.
There are wide-ranging opportunities for private investment in the energy sector in the form of IPPs and under Feed-in-Tariffs for renewable energy projects. The target of 5,000 MW by2015/16 coupled with the estimated requirement of an additional 4,000 MW of capacity over the next 20 years, will require significant foreign investment, private capital and technical expertise.
Favorable growth prospects: IMF’s latest Regional Economic Outlook for Sub-Saharan Africa (2015) projects that region is set to grow at 4.5% in 2015. While this rate will be at the lower end of the range experienced over the last few years, Sub-Saharan Africa will remain among the fastest growing regions of the world.
POWER SECTOR OPPORTUNITIES IN SUB-SAHARAN AFRICA
The power sector in sub-Saharan Africa offers a unique combination of transformative potential and attractive investment opportunities.
In most countries, electricity is provided by expensive diesel generators with prices ranging from three to six times what grid consumers pay across the world.