Ghana, Siemens sign €250m Power Grid Improvement Deal
While some Nigerian Power Sector operators and experts have issues with the recent Nigerian Government agreements with Germany for Siemens to reposition the nation’s power infrastructure, the Government of Ghana has wholeheartedly signed a similar mega deal with the company. Siemens has just signed a memorandum of understanding with the Republic of Ghana to upgrade the nation’s electricity grid using €250m funding from Germany.
The MoU was signed by Siemens and the Ghana Grid Company Limited in the presence of the President of the Republic of Ghana, Nana Akufo-Addo, and the President and Global Chief Executive Officer of Siemens AG, Joe Kaeser.
According to the MoU, Siemens and Gridco will work together to upgrade and extend Ghana’s transmission infrastructure, improve the country’s grid capacity and stability and expand power export to neighbouring countries through the West African Power Pool.
President Akufo-Addo Administration has since inception expressed the penchant to transform the country economically and industrially.
The Siemen’s Global CEO said, “We applaud Ghana for all its achievements under the leadership of President Nana Akufo-Addo. We are eager to contribute to Ghana’s successes by creating local value and being a powerful and reliable regional partner to the country’s socio-economic development goals”.
The operations and execution of the MoU in addition to upgrading the grid system would also lead to achieving Ghana’s increasing need to reform the national technical and vocational education and training system as Siemens will also educate and train young Ghanaians in various engineering disciplines and provide training on Siemens equipment for STEM education.
GRIDCo is a public utility company wholly owned by the Government of Ghana. It was incorporated on 15th December 2006 after the separation of the transmission functions from the Volta River Authority (VRA). While Ambassador Karbala Blay-Amihere is the Board Chairman, Mr Jonathan Amoako-Baah is the Chief Executive Officer.
GRIDCo is to Ghana what TCN is to Nigeria. They both provide power transmission services in their respective countries.