Thursday, 25 September 2014

Power generation in Ghana will be supported by IFC and VRA


Power generation in Ghana will be supported by IFC and VRA

Volta River Authority (VRA), Ghana’s national power generation will be supported with the Memorandum of Understanding signed by the IFC, a member of the World Bank Group with Volta River Authority (VRA). By 2016, the electricity supplied will be increased to 5,000 MW which will be further helpful in increasing the economic growth of the country. IFC and VRA in contour with National Energy Policy have contributed to domestic power supply and will further contribute to development and financing of VRAs generation openings. International power generation developers will be establishing the proposed project.

Delivery of power supply at a cheaper cost to Ghanaians is expected by the power plants that are jointly established. Fuel projects such as liquefied natural gas and renewable energy projects are also expected to be supported by that power plant. To meet the growing need of the Ghanaians, IFC has promised to support the goal of Ghana National Energy Policy, said Richard Arkutu, IFC Manager, Africa Special Initiative for Infrastructure.  Read More....

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