The Ghana Grid Company (GRIDCo) has announced that it is set to earn revenue for the first time since 1983, thanks to the export of power to neighbouring countries such as Togo, Benin, Cote d’Ivoire and Burkina Faso.
This has come as a relief to the company, which has been struggling with late payments from its clients, including the Electricity Company of Ghana (ECG), Northern Electricity Distribution Company (NEDCo), and the mining industry.
The Chief Executive of GRIDCo’s, Ing. Ebenezer Essienyi mentioned that the earnings from the export of power are very important to the company and would support operations even when ECG, NEDCo and the mines are late in settling their debts.
“For the first time since 1983, the line between Prestea and Cote d’Ivoire was used for friendly commercial business. Money wasn’t exchanging hands but this time our brothers from CI Energies has come for us to sign an agreement that will enable us to earn significant revenue,” he said.
In recent years, GRIDCo has seen an increase in the demand for electricity from its neighbouring countries, leading to a substantial increase in its revenue. This development is expected to support the company strengthen its operations and ensure a more stable power grid for Ghana.
The revenue from the export of power is a welcome development for GRIDCo, which has not seen any significant increase in revenue since 1983. This is expected to have a positive impact on the power sector in Ghana, as GRIDCo would have more resources to invest in improving its transmission infrastructure and ensuring a reliable and stable supply of electricity.
GRIDCo is the national power transmitter in Ghana, responsible for transmitting electricity from wholesale suppliers to bulk consumers. The company also plays an important role in the Wholesale Electricity Market, by undertaking economic dispatch and maintaining the National Interconnected Transmission System.
Distributed by APO Group on behalf of Ministry of Information, Ghana.
