[ 2021-02-02 ]

EU supports energy sector with additional 9.7 million Euros

By Eric Appah Marfo

Accra, Feb. 2, GNA – The European Union (EU),
through the French Development Agency- Agence
Francaise Development (AFD) has approved a 9.

7 million Euros grant to Ghana Grid Company
Limited (GRIDCo) to boost infrastructure works on
its Kumasi-Bolgatanga Transmission Project.

The aim of the project is to enhance and upgrade
electricity supply and access to the Northern
Regions of Ghana. It will also boost export of
power to the sub-region under the West African
Power Pool (WAPP), commencing with Burkina Faso.

The grant was co-signed by both Ms Diana Acconcia,
EU Ambassador to Ghana and Ms Anne-Sophie Ave,
French Ambassador to Ghana and Mr Christophe
Cottet, Country Director of AFD and Mr Jonathan
Amoako-Baah, Chief Executive Officer of GRIDCo,
both signing on behalf of their respective
institutions.

The project is considered a key link and priority
in the West African Power Pool. It was initially
financed with 174 million dollars from AFD to
GRIDCo and 4.8 million Euros technical assistance
grant from the EU.

The grant, would facilitate the early completion
of the project which is behind schedule, to ensure
sustainable and reliable electricity supply in
Ghana and the sub-region.

The approval of the grant is also a recognition of
the several strategic measures and prudent fiscal
policies undertaken by the last Board of GRIDCo.

For a greater part of the last three years, work
on the 330 kV transmission line project from
Kumasi to Bolgatanga slowed down as AFD was
compelled to stop paying contractors working on
the project.

This was due to severe liquidity challenges
resulting in GRIDCo inability to ‘service’ the
initial AFD US$174 million loan and other similar
obligations.

Source - GNA

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