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Parliament approves 45 million dollar
facility for cross border electricity trade
Accra, March 1, GNA - Parliament on Thursday approved by
resolution a 45-million dollar loan agreement that would
increase cross-border electricity trade within the ECOWAS
region.
The agreement, between the government and the International
Development Association, is part of a regional
infrastructure development programme of ECOWAS, which would
ensure interconnection of power and trading of energy.
The project, when completed would go a long way to reduce
the nation's over reliance on the Akosombo Dam.
The loan has a 30-year term of credit with a 10-year
moratorium and a semi-annual installment repayment period
commencing on September 15, 2016 and ending March 15, 2046.
The project, known as the Coastal Transmission Backbone
Project, has various aspects, including the upgrading of the
Akosombo, Volta sub stations and switchgear at the Kpong
Generation Station and the construction of a third bulk
supply point for the Accra/Tema load centres.
A Finance Committee report said: "The technical team
informed the Committee that under West Africa Power Pool, a
number of transmission lines and power related works would
be constructed in the country to form the backbone for the
trading and exchange of power within the sub-region."
The House also approved 68,923,640 million dollars for
financing the Accra Sewerage Improvement project, aimed at
extending and improving the sewerage and sanitation system
for disposing waste water from Accra in an environmentally
acceptable way.
The loan has no interest charge and a repayment period of 40
years with a 10-year grace period.
The facility would help construct two treatment plants at
Legon and the Densu delta.
"The committee noted that immediate beneficiaries of the
project will be the urban and peri-urban population of Accra
of about 1,467,839, majority of whom are poor. The remaining
population will benefit from public toilets and sanitation
education programmes," the Finance Committee report said.
GNA
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