Ghana: Government to save $700m from power deal reviews
Ghana’s Minister of Energy and Petroleum Boakye Agyarko has said that the government of Ghana loses $700 million annually through power purchase agreements.
It has therefore decided to review the various power purchase agreements that were signed by the previous government to help the nation save the monies that go down the drain.
Speaking at the maiden Ghana Energy Summit in Accra on Tuesday, Mr. Agyarko said the country would continue to lose $700 million annually if such agreements were not reviewed.
He hinted that about 30 power purchase agreements had been reviewed to ensure value for money.
The government upon assumption of office, has been campaigning against some emergency power purchase agreements signed by the immediate past government to resolve the power crisis, which has persisted for over three years.