Ghana could become a regional exporter of electricity within the next four years, according to Henry Kerali, the head of the financial institution in the country. According to him, the power plant construction agreements concluded by the previous government have generated a surplus of more than 1.5 GW which cannot be absorbed by the country.
The institution therefore advises the government to enter into negotiations with its neighbors now to be able to transfer this surplus to them. However, she is concerned about the competitiveness of Ghana’s supply in the regional market, as the feed-in prices agreed with independent power producers are quite high. The World Bank therefore suggests that the government renegotiate these tariffs in order to have more competitive prices.
Recently, the institution had declared that the country’s dependence on the sole electrical resource of hydropower was one of the main factors behind the high cost of energy (around 20 cents per kilowatt hour against an average of 12 cents In the region).