Ghana may export power to neighbouring countries by 2020 if current reforms in the energy sector are completed, Energy Minister, Boakye Agyarko has said.
The Minister said the country could be generating in excess energy capacity of 1,700 megawatts because of the many power plants being installed.
Speaking on the final day of the National Policy Summit 2017 at the Accra International Conference Centre Tuesday, the Minister said the excess power will be exported for the money to be invested in other sectors of the economy.
Ghana’s current total installed power capacity that is distributed between households and commercial places is 4,275 megawatts. This is 11,000 megawatts short of the expected supply of 16,398 to 17,350 GWh.
The country’s annual electricity consumption per capita since 2010 has been below 400 kWh compared to the global minimum average of 500 kWh for lower middle income countries like Ghana.
The country had a marginal increase from 399 to 410 kWh per capita between 2013 and 2014, a period it was plunged into power crisis known as dumsor.
Many firms both local and foreign who did not have a backup system suffered during the period of power outages. The Institute of Statistical Social and Economic Research (ISSER) said about 20 percent of the 350 medium to small-scale enterprises (SMEs) it surveyed during the period had access to backup generators. For a number of micro-firms it visited, only 10 percent had back up generators.
As a result, the past National Democratic Congress (NDC) government signed a total of 42 power deals to ensure a reliable and stable energy supply in the country.
Then President John Mahama also signed the Millennium Challenge Corperation Compact II Agreement with the United States government to drive reforms at the Electricity Company of Ghana (ECG).
The current government has also caused revision of the Agreement to eliminate clauses that might lead to job losses at ECG.
Mr Agyarko reiterated government's commitment to improve energy supply in the country by driving innovation at ECG.
He said when the reforms are completed, the country will be generating an excess power capacity of 1,700 megawatts which would be sold to neighbouring countries from 2020.