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Promising Ghanaian Electricity Market Has Potential to Become Large Net Exporter of Electricity Finds Frost & Sullivan - Private sector will have a leading role to play if ambitious growth targets are to be met - Energy.Frost.com
Promising Ghanaian Electricity Market Has Potential to Become Large Net Exporter of Electricity Finds Frost & Sullivan

 

PRZOOM - /newswire/ - Cape Town, South Africa, 2012/10/03 - Private sector will have a leading role to play if ambitious growth targets are to be met - Energy.Frost.com.

   
 
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Ghana’s demand for power has been growing robustly at a CAGR of 8%. However, demand for power is outstripping supply by far, resulting in frequent and sustained power outages. Government efforts to meet burgeoning demands are set to result in investments of nearly $4 billion in new generation capacity over the next four years, with private participation emerging as a key factor in improving the availability and reliability of power supply within the country.

New analysis from Frost & Sullivan (energy.frost.com), Strategic Overview of the Ghanaian Electricity Market: 2011 Update, notes that the market has embarked on an ambitious new electricity generation capacity build programme, in order to raise installed capacity from 2,000 MW to 5,000 MW by 2015.

"Growth in the Ghanaian electricity supply market is being driven by a pressing need for new generation capacity, in order to meet the robust demand for electricity in the country, as well as the West African region," noted Frost & Sullivan’s Energy & Power Research Analyst Gareth Blanckenberg. "The strong growth in electricity demand requires a significant expansion in future generation capacity, creating opportunity for private sector participation."

The Ghanaian Government has set out ambitious growth targets for its electricity market. These include ensuring adequate, reliable and improved supply of electricity to meet national requirements, as well as increased access to electricity from the current 66% to at least 80% by 2015, and national access by 2020. The government also plans to achieve gas-based generation for at least 50% of the thermal plant production and become a major exporter of power to West Africa by 2015.

To achieve these objectives, large and sustained investment in the power sector will be required by both public and private institutions.

"Historically, however, low electricity tariffs have served as an investment deterrent in Ghana’s electricity supply market," said Blanckenberg. "To encourage private sector participation, the government has liberalised the market in an effort to increase the level of investment and the rate of capacity expansion."

Thermal generation is set to become the dominant feedstock source within the next three years, fuelled by oil and natural gas sourced from within the country.

"Ghana has abundant natural resources suitable for electricity generation and is expected to become a large net exporter of electricity in the near future," concluded Blanckenberg. "The discovery and recent start of extraction of oil and gas from the Jubilee oil field will serve as a secure and cost effective feedstock source for electricity generation projects."

If you are interested in more information on this study, please send an email with your contact details to Samantha James, Corporate Communications, at samantha.james[.]frost.com.

Strategic Overview of the Ghanaian Electricity Market: 2011 Update is part of the Energy & Power Growth Partnership Service programme, which also includes research in the following markets: Overview of the Moroccan Electricity Industry: Main Challenges and Opportunities and, Strategic Overview of the Egyptian Electricity Industry. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
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Strategic Overview of the Ghanaian Electricity Market: 2011 Update / M76F-14

 
 
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Promising Ghanaian Electricity Market Has Potential to Become Large Net Exporter of Electricity Finds Frost & Sullivan

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