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FIRST BIDDERS’ CONFERENCE ON ECG PSP CONCESSION HELD IN ACCRA
ACCRA, May 23, 2017: The first Bidders’ Conference on the concession for the Private Sector Participation (PSP) in the electricity distribution business of the Electricity Company of Ghana (ECG) has been held at the Alisa Hotel in Accra. The ECG PSP transaction is one of five activities under the ECG Financial and Operational Turnaround Project funded through the Ghana Power Compact.
The event, organized by the Millennium Development Authority (MiDA), was attended by over 100 people, comprising local and international investors, local financial institutions, trade associations, and government and regulatory institutions. It was a forum to discuss the structure of the ECG Concession and share ideas aimed at improving the process.
Launching the event, the Minister for Energy, Hon. Boakye Agyarko stressed the importance of reliable and available power supply for national development. “There is no argument that an improved and efficiently managed power sector is key to unlocking the development potential of our dear country,” he said. Hon Agyarko added that “years of inadequate investment, inefficiencies within the utility, and a large stock of outstanding receivables, particularly in the distribution sector, have all conspired to make the organizations in the sector what they are today. As a nation, we should set our sights firmly on turning around the fortunes of this strategic sector.”
The Board Chair of MiDA, Prof Yaa Ntiamoa-Baidu said the Bidders’ Conference was a major step towards meeting the objectives of the Compact II Programme. She added that, “since the new Board was formed, we have been building on all the work that has been done so far including work on the process of identifying qualified private sector partners for ECG through a transparent and competitive process.”
In his welcome remarks, the Chief Executive Officer of MiDA, Ing Owura K. Sarfo said, “the ECG Financial and Operational Turnaround Project aims to strengthen the governance and management of ECG by bringing in an acceptable concessionaire to make investments designed to reduce technical, commercial, and collection losses and improve service quality.”
“MiDA continues to work together with all stakeholders on this journey of identifying the best qualified private sector partner for ECG. This partnership will transform the ECG in terms of technology in power distribution. Let us seize the opportunity together to improve the power situation in our dear country,” he added.
The Bidders’ Conference facilitated interaction between the shortlisted Applicants for the ECG Concession and potential local and international investors. The Bidders also had an opportunity to tour selected ECG sites while in Ghana.
Click here to view pictures from the event
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