The Electricity Company of Ghana (ECG) requires $200 million annually to compensate for the investment deficit over the past years and keep up with electricity demand the Minister of Energy, Mr Emmanuel Armah-Kofi Buah, has said.
Currently, the rate of electricity demand nationally has risen to an average of 10 per cent per annum.
Mr Buah made this known when he inaugurated a new office of the ECG at Abuakwa in Kumasi.
He said in view of the capital-intensive nature of the energy sector, the government was exploring avenues to secure substantial resources to ensure sustained energy supply.
Mr Buah also said the government was sensitive to the impact of the electricity supply challenges on the economy and their effect on business and quality of life and gave the assurance that it was making every effort to fix the problems.
One of the immediate measures by the government to resolve the current supply challenge include restoring the VRA plants at the Aboadze power enclave to full operation before the end of the first quarter of 2015.
In the medium term, the minister said, the government was working to bring on stream a 360-megawatt Jacobson Plant and a 240-megawatt Amandi Plant, both at Aboadze and a 350-megawatt Cenopower Plant in Tema by 2017.
According to Mr Buah, from the medium to long term, the government was discussing with General Electric to add 1,000 megawatts installed capacity to the liquefied natural gas plant in the Western Region.
The Managing Director of ECG, Mr Robert Dwamena, said the company was constantly undertaking major capital investment projects to enhance the distribution of electricity.
