31 Jan EU grants 9.7 Million Euros to GRIDCo
31 Jan 2021
By Enoch Adjei
The Ghana Grid Company Limited (GRIDCo), has received a grant of €9.7 million from the European Union (EU) for the purposes of boosting infrastructure works on the interconnection line between Ghana and Burkina Faso.
The Chief Executive Officer of GRIDCo, Mr Jonathan Amoako-Baako says the grant will help the company to become the leading power transmitter in the sub region.The EU, through the French Development Agency – Agence Francaise Development (AFD) approved the new €9.7 million grant for the GRIDCo.
The EU grant will be used to finance the upgrade of an 18km long 161kV transmission line located between Ahodwo and Anwomaso substation in Ghana’s second largest city, Kumasi.
It will also support power transfer capacity from the South of the country up to Burkina Faso, through the 330kV line from Kumasi to Bolgatanga as well as reductions in transmission losses.
“The 330kV line project was initially financed with a US$174 million loan from AFD to GRIDCo and a €4.8 million euros technical assistance grant from the EU.
Speaking during the signing agreement which was witnessed by the EU Ambassador in Ghana, H.E. Diana Acconcia and French Ambassador to Ghana, H.E. Anne-Sophie Avé, and Mr Amoako-Baah said: “This financial support from the EU represents a significant investment in our quest to remain the leading power transmitter in the sub-region.
Our long-standing relationship with the EU, through AFD, continues to prove instrumental in the delivery of quality access to electricity in West Africa, in line with Goal 7 of the Sustainable Development Goals (SDGs).”
H.E. Diana Acconcia “It is a great example of European partners coming together to support integration of regional electricity markets. This project will also directly benefit Ghana. It will enhance the efficiency and reliability of the transmission network, and strengthen the electricity flows to the North. Thus, contributing to the industrialization of those regions and unlock new economic opportunities”.
H.E. Anne Sophie Avé, Ambassador of France to Ghana said “France is a long time and constant partner of GRIDCO. When GRIDCO most needed support, France was there, through her operator, the AFD.
“Because the only way is up and forward, this new project, supported by EU and France, will strengthen one of the largest development investments of France for Ghana, to enhance and upgrade electricity transport in Ghana and from Ghana.
“It will improve the reliability of energy distribution and bring revenues to the country through exports of over-production. This exemplary partnership between Ghana and France will provide sustainable “greener” growth, jobs and revenues for the Ghanaian people”.