BusinessEconomyNews

Ghana Requires $90 Million to Avert Looming Power Crisis – GRIDCo Report.

 

Ghana is on the brink of a potential power crisis as the West African Gas Pipeline (WAGP), a key source of natural gas for power generation, is scheduled to shut down for critical maintenance from January 20 to February 16, 2025.

According to a report by the Ghana Grid Company (GRIDCo), the country urgently requires approximately $90 million to purchase alternative fuel to sustain power generation during the shutdown period. The maintenance activities on the WAGP, including pipeline cleaning (pigging) and valve replacement, will necessitate a total halt in gas flow, threatening the stability of Ghana’s energy supply.

The shutdown is expected to heavily impact power plants in the Tema region, which depend significantly on gas from the WAGP for electricity production. This could potentially plunge the nation into a power crisis if immediate and effective measures are not implemented.

GRIDCo’s Mitigation Strategies

To minimize the effects of the impending gas supply disruption, GRIDCo has outlined a series of strategies:

1. Rescheduling Generator Maintenance: Planned shutdowns of power generators during the WAGP maintenance period will be postponed to ensure maximum capacity is available.

2. Securing Alternative Fuels: Efforts are underway to procure light crude oil and other fuel types to power thermal plants during the gas supply interruption.

3. Load Management as a Last Resort: In case of insufficient fuel or unforeseen challenges, load shedding may be implemented to stabilize the grid.

Urgent Need for Funding

The GRIDCo report underscores the critical importance of securing the $90 million required to procure alternative fuel. Delays in funding could lead to widespread power outages, disrupting industries, businesses, and households, and posing a significant threat to Ghana’s economic stability.

Government’s Response

The government has acknowledged the urgency of the situation and is actively working to secure the necessary funds. Key stakeholders, including the Ministry of Energy, are collaborating to fast-track fuel procurement and implement contingency measures to prevent a nationwide power crisis.

Failure to act swiftly, GRIDCo warns, could leave the nation vulnerable to prolonged power outages, with dire consequences for productivity and economic growth.

Below is the full statement from GRIDCo:

(The statement content would follow here.)

Story by: Mercy Addai Turkson

Show More

Related Articles

Leave a Reply

Back to top button