GRIDCo, Korean institutions sign power enhancement agreement
The Ghana Grid Company (GRIDCo) has signed an agreement with two Korean institutions on a power enhancement project, as part of intervention measures to ensure power stability.
Under the project, a 185 kilometre 330KV transmission line will be constructed from Prestea in the Western Region to Kumasi in the Ashanti Region.
The project is a component of the 330KV transmission network originating from the Aboadze thermal power plant in the south to Bolgatanga in the north.
The $67million Prestea-Kumasi power enhancement project will be financed with a concessional loan offered by the government of Korea through the Export-Import Bank of Korea.
The project is expected to be completed by the end of the first quarter of 2017. It will be implemented and managed by GRIDCo.
A Consortium known as Samsung C&T and the GS E&C, two Korean institutions ,would execute the project.
Benefits of project
Signing the agreement for Ghana in Accra on Tuesday, the Chief Executive Officer of GRIDCo, Mr William Amuna, said the project would facilitate the transportation of power from the south to the north to enhance the ongoing rural electrification project.
He said the easy evacuation of all power generated in the west of the country, an increase in the power transfer capability towards Kumasi, the Northern Region and beyond, are some of the benefits of the project.
Mr Amuna said the project would also improve reliability and security of the entire power network and enhance the operation of the West African power pool.
Other benefits include the reduction of GRIDCo’s transmission line losses and improvement of the system’s voltage stability.
Mr Ho-Yun Jang signed for GS E&C, Mr Yu Jeong Sun signed for the Korea Exim Bank while Mr Choi Neesung signed for Samsung C&T.
Power stability
In his remarks, the Minister of Power, Dr Kwabena Donkor, said the project could not have been executed at a better time than now when Ghana was faced with a severe power instability problem.
He expressed optimism that upon completion, the project would together with other government initiatives stabilise power supply.
He commended the Republic of Korea for supporting the Government of Ghana in its effort to stabilise power supply.
the Counsellor at the Embassy of the Republic of Korea, Ms Myounsan Kim, said the project would strengthen bilateral relations between Ghana and Korea.
She said Korea would continue to partner Ghana to initiate more development projects as part of its contribution to help accelerate Ghana’s development.
Writer’s email Doreen.andoh@graphic.com.gh
