Click to read all about coronavirus →
The Kumasi Institute of Technology and Environment (KITE), is anticipating positive growth in the power sector with the coming on board of a new consortium under the power compact two agreement.
It follows the selection of Meralco Consortium by the Millennium Development Authority (MiDA) to manage the Electricity Company of Ghana [ECG].
According to the Executive Director of KITE, Ishmael Edjekumhene, “We expect a better performance than the ECG otherwise why are we bringing them in? So a lot will depend on the company,” he said.
He however raised concern as to whether Meralco Consortium will be able to meet the power demand in Ghana.
“The question is whether they are able, the distribution utility is able to distribute all the power that is generated to be able to produce”.
Meralco consortium is led by Manila Electricity Company from the Philippines. KITE believes the decision will reduce perennial power crises faced by the country.
Per the compact, the Millennium Challenge Corporation is expected to inject about 498 million dollars into ECG, while Meralco will invest about 500 million dollars.
Speaking to Citi Business News, Mr. Ishmael Edjekumhene said he is expectant of a positive turnaround in the power sector.
“It’s almost like you being a supplier of a good or product and your manufacturer or main producer is not producing the goods, you cannot do much about it. We expect much improvement in the utility and it is possible they will be forced to deliver because their money is also in there” he added.
Send your news stories to and via WhatsApp on +233 55 2699 625.