The Millennium Development Authority (MiDA), the implementing agency for the Ghana Power Compact II in the Republic of Ghana, has assured of massive infrastructure development in the country’s power sector as the power compact enters into the final year.
According to the authority, it has $308.2 million, being the remaining compact fund and US$23million as counterpart fund from government of Ghana to execute a number of projects to ensure efficient and reliable power supply.
Chief Executive Officer of MiDA, Martin Eson-Benjamin, who disclosed this at a press soiree in Accra, explained that the funds would support investments in infrastructural and business process related projects that enhance ECG’s operational inefficiencies, cuts in commercial and technical losses, improve its finances and allow power to be distributed more efficiently in the country.
He added that part of the funds would also support the Energy Commission (EC) and the Ghana Standards Authority (GSA) capacity upgrades in, among other things, the form of labelling standards and energy auditing equipment testing.
Additionally, the retrofitting of public buildings at Korle-Bu, the University of Ghana and the Ministries would allow for efficiencies in consumption and, therefore, lower energy bills.
Eson-Benjamin stressed that they would also apply the funds to projects to improve access to power in eight selected markets in Accra and two others in Tamale.
“The projects which we have prioritised after the de-obligation of the $190 million will, on completion, support the efficient and sustainable delivery of power to ECG’s consumers in the micro, small, medium and large industries and institutions and even for market, economic enclave and domestic consumers,” Mr Eson-Benjamin said.
He emphasised that their major implementation phase has fallen into the election year and could be seen as ill-timed or well-timed, depending on who is commenting on the projects.
He added that they would, however, work assiduously to complete all projects within the one and a half year left for the Power Compact agreement to be completed.
Mr Eson-Benjamin assured that his outfit is fully committed to meeting the aspirations of the compact, the expectations of the government of Ghana and the government of the United States of America, the funding provider.
He called on the public to bear with them and exercise restraint since the projects to be undertaken could lead to interruption in power supply in some areas.