Home | Goldstreet Business
Monday, January 25, 2021
  • Home
  • General News
    • Extractives
    • Auto
  • Business
    • Banking and Finance
    • AgriBusiness
    • Insurance
    • Mining
    • Oil and Gas
    • Real Estate/Housing
  • News
    • Top Stories
    • Agriculture
    • Maritime/Aviation
    • Energy
    • Education
    • Construction
  • Technology
    • ICT
    • Telecom
  • World
    • Africa
    • International
  • Editorial/Features
  • GSB Data Services
No Result
View All Result
  • Home
  • General News
    • Extractives
    • Auto
  • Business
    • Banking and Finance
    • AgriBusiness
    • Insurance
    • Mining
    • Oil and Gas
    • Real Estate/Housing
  • News
    • Top Stories
    • Agriculture
    • Maritime/Aviation
    • Energy
    • Education
    • Construction
  • Technology
    • ICT
    • Telecom
  • World
    • Africa
    • International
  • Editorial/Features
  • GSB Data Services
No Result
View All Result
Gold Business Logo
No Result
View All Result

Govt saves US$6.8bn in reviewing PPAs

September 26, 2018
in Uncategorized
0
Share on FacebookShare on Twitter

A committee set up by the Energy Ministry, to review all Power Purchase Agreements (PPAs) signed by the ECG from 2018 till 2030, has saved some US$6.8 billion for the state.

Energy Minister, John Peter Amewu explained that the over-contracting of capacity has imposed serious financial and legal obligations on government and power consumers.

RELATED POSTS

Debt management taking centre stage

Speedy implementation of Ghana CARES program critical – Kwame Pianim

Out of the 30 PPAs signed by the Electricity Company of Ghana for conventional thermal power projects, the committee reviewed 26 of the agreements with a combined capacity of 7,838MW.

Four of the projects were not reviewed because they are already operational.

An estimated cost for the termination is US$402.39 million, compared to an average annual capacity cost of US$586 million each year or a cumulative cost of US$7.217 billion from 2018 to 2030.

The review noted that the projected capacity additions from the PPAs were far in excess of the required additions inclusive of a 20 percent system reserve margin from 2018 to 2030 and would result in the payment of capacity charges for the dispatched plants.

Recommendations

The assessment recommended that, eight of the PPAs with combined capacity of 2070MW are to proceed without modification; four PPAs with a combined capacity of 1,810MW be deferred to 2018-2025; three PPAs with a capacity of 1,150MW be deferred beyond 2025 and 11 of them, with a combined capacity of 2,808MW be terminated.

Energy Minister

Energy Minister, John Peter Amewu explained that, pursuant to the review exercise, government has made significant savings from the deferment and termination of the reviewed PPAs.

Energy Minister, John Peter Amewu

The Minister however said, the PPAs, in addition to the existing generating capacities from hydro, the VRA plants at Aboadze and Tema including the TICO plant will result in a total capacity of about 11,000MW.

“This will by far be more than the current peak demand of 2400MW. Even at an annual growth in demand of 10 percent, Ghana will not be able to utilize this capacity in two decades”, Mr. Amewu indicated.

By Wisdom Jonny-Nuekpe

60

SHARES
facebook Share on Facebook
Twitter Tweet
Follow Follow us
custom Share
custom Share
custom Share
custom Share
custom Share
ShareTweetShare

Related Posts

Debt management taking centre stage

Debt management taking centre stage

January 25, 2021
Speedy implementation of Ghana CARES program critical – Kwame Pianim

Speedy implementation of Ghana CARES program critical – Kwame Pianim

January 25, 2021
Public sector account officers to benefit from IPSAS certification programme

Public sector account officers to benefit from IPSAS certification programme

January 25, 2021
Debt management taking centre stage

Businesses scared by threat of renewed lock down

January 25, 2021
New oilfield development in Ghana stalls

New oilfield development in Ghana stalls

January 25, 2021
Next Post

112 companies ignore GRA’s call to honour tax obligations

US$50 billion bond to be factored into 2019 budget – Ofori-Atta

Archives

<
January 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
▼
>
MonTueWedThuFriSatSun
    123
45678910
11121314151617
18192021222324
25262728293031
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       
 123456
78910111213
14151617181920
21222324252627
282930    
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
1234567
891011121314
15161718192021
22232425262728
2930     
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
  12345
6789101112
13141516171819
20212223242526
27282930   
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
     12
3456789
10111213141516
17181920212223
242526272829 
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
     12
3456789
10111213141516
17181920212223
24252627282930
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
1234567
891011121314
15161718192021
22232425262728
2930     
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
    123
45678910
11121314151617
18192021222324
25262728   
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
   1234
567891011
12131415161718
19202122232425
2627282930  
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
     12
3456789
10111213141516
17181920212223
24252627282930
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
      1
2345678
9101112131415
16171819202122
23242526272829
30      
   1234
567891011
12131415161718
19202122232425
262728293031 
       

RECOMMENDED

Debt management taking centre stage

Debt management taking centre stage

January 25, 2021
Speedy implementation of Ghana CARES program critical – Kwame Pianim

Speedy implementation of Ghana CARES program critical – Kwame Pianim

January 25, 2021

MOST VIEWED

Plugin Install : Popular Post Widget need JNews - View Counter to be installed
  • Energy
  • Health
  • Auto
  • International
  • Subscription Form
  • Staff Webmail
  • About Us
  • Contact Us
Call us: +233 24 432 0902 | info@goldstreetbusiness.com

© Copyright © 2020 goldstreetbusiness.com. All Rights Reserved.

No Result
View All Result
  • Homepages
    • Homepage Layout 1
    • Homepage Layout 2
  • World
  • Business
  • Technology
  • Health

© Copyright © 2020 goldstreetbusiness.com. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.