Under Construction
Country Sector Sovereign / Non-Sovereign Title Commitment in UA Status Signature Date
Multinational Power Sovereign Multinational - Nigeria-Niger-Benin-Burkina Faso Power Interconnection Project 36,500,000 Implementation
Djibouti Power Sovereign Djibouti – Geothermal Exploration Project in the Lake Assal Region 10,740,000 Implementation
Multinational Power Sovereign Multinational - Projet d’interconnexion électrique Cameroun- Tchad (composante Tchad) 27,500,000 Implementation
Madagascar Power Sovereign Madagascar - Etude de faisabilité du projet de renforcement et d'interconnexion des réseaux de transport d'énergie électrique 1,000,000 Implementation
Multinational Power Sovereign Multinational - 225KV Guinea-Mali Electricity Interconnection Project 30,000,000 Implementation
Multinational Power Sovereign Multinational - 225KV Guinea-Mali Electricity Interconnection Project 30,000,000 Implementation
Mali Power Sovereign Mali - Mini Hydropower Plants and Related Distribution Networks Development Project (PDM-Hydro) 20,000,000 Implementation

NEWS

Ghana: We did not provide guarantees to IPPs — World Bank

CategoryStories
CountryGhana
TagsEnergy Access, Regulatory and Governance

The World Bank says it has not provided any financing or guarantees to the Independent Power Producers (IPPs) that signed Power Purchase Agreements with Ghana or the Electricity Company of Ghana during the energy crisis in 2014-2016.

In a statement issued by the Bank to clarify media reports that it provided guarantee to the IPPs during the power crisis era, the World Bank said to secure Ghana’s energy future, the Bank  supported  the Energy Sector Recovery Plan (ESRP)  of Ghana for affordable and reliable electricity supply and enhance the accountability in the energy sector.

The ESRP mandates the rationalisation of gas and power purchase costs in line with the demand and approves the procurement of energy supply and service contracts in a competitive manner.

The Bank said the implementation of this policy was necessary to ensure that new power generation capacity was procured competitively and transparently based on the most cost-effective basis.

The statement said this was to prevent a recurrence of over-supply of generation capacity in future.

“The World Bank Group provided financing and a guarantee to the Sankofa Gas Project, which since 2019 has increased the availability of natural gas for power generation by leveraging private capital investment and promoting a cleaner energy mix,” the Bank said.

The World Bank indicated that it was committed to supporting Ghana in its efforts to sustain economic growth, accelerate poverty reduction, and enhance shared prosperity in a sustainable manner.