Ghana plans Egyptian backing for 50MW project

GHANA: Ghana is in negotiations with an Egyptian energy company as part of the country's plan to develop wind projects.

The West African country is in talks with the El Sewedy Electric group to develop a 50MW project.  

The move follows a recent announcement by the country’s cabinet that it intends to approve a renewable energy draft bill by the end of December. This will include setting a feed-in-tariff to guarantee prices for generated electricity by private developers.

El Sewedy said on Thursday it was ready to invest up to $400 million over three years in the development of the Ghanaian wind project.

In the first quarter of 2010, Ghana received a credit from the International Development Association to pay for an assessment of the country’s wind energy resource.

Ghana’s peak power demand stands at around 1.5GW, with the country said to lose an estimated $600million annually as a result of unreliable or insufficient wholesale electricity supply.