The Vice President, Dr. Mahamudu Bawumia, has inaugurated a $50 million Bulk Power Supply Point at Kasoa in the Central Region on Wednesday June 1, 2022.
The 435 MVA project, funded by the Millennium Development Authority (MiDA) under the Ghana Power Compact Agreement with the Government of the USA, is the second largest bulk power supply under the agreement after the Pokoase Bulk Power Supply.
The substation, will serve the fast-growing Kasoa municipality, as well as to Winneba and nearby communities.
Speaking at the inauguration, Dr. Bawumia said, the project, which started two and a half years ago, will significantly improve power supply in the fast-growing and rapidly industrializing Kasoa community and beyond.
“This strategic investment, will also contribute to the reduction in technical losses, improve power quality and also resolve issues related to the quantum of unserved energy, thereby improving the operational efficiency and finances of ECG and GRIDCo,” Dr. Bawumia added.
The Vice President noted that the Kasoa Bulk Supply Point, which is the second of two programs under the US Government’s Millennium Challenge Account agreement with Ghsna, has, together with the other program, added to the wealth of our Nation.
“From the Agricultural Transformation Compact in 2007-2012 and to the Power Compact, from 2017 to-date, Ghana’s Compact Programs have benefited from some US$863million grant funds that have supported investments in vital projects and aided players in our local supply chains,” Dr. Bawumia said.
“These interventions, funded by the Government and People of the United States of America, have resolved some binding constraints in two vital sectors of our economy, and have left excellent benchmarks in Development Program Management, that are worthy of emulation; in particular the use of donor funds to complete Projects on time and within budget.”
The Vice President conveyed Ghana’s sincerest appreciation to the Government of the United States of America for its support and cooperation.
On the state of power supply in the country, Dr. Bawumia said the government of the NPP has invested significantly to improve the erratic power supply the government inherited.
“As we inaugurate a significant piece of power infrastructure like this Substation today, it is worth noting that lots of resources have also gone into Ghana’s Energy Sector, since our Government came into Office in 2017. This is evidenced by the fact that the phenomenon of erratic power supply has eased, and the availability of good quality power has improved, enabling businesses to gradually increase production and enhance productivity.”
The inauguration of the Kasoa Bulk Power Supply brings to an end Ghana’s second programme under the Millennium Challenge Account agreements, which have invested
Ghana remains one of only a few countries to successfully complete two programmes under the MCA, and Dr. Bawumia, who was involved in both agreements, made a call to the United States for a third Compact Agreement.
“As the Compact draws to a close, let me emphasize that the bond between Ghana and the United States of America will continue to strengthen, enabling the realization of our shared values, which focus on sustainable economic growth, job creation and poverty reduction.”
“We eagerly look forward to Ghana’s nomination for yet another Millennium Challenge Compact Program.”
“I was intimately involved in the first Compact, I was intimately involved in the 2nd Compact and in shaa Allah, I will be intimately involved in the 3rd Compact.”
“On this note, I hereby formally pull the curtain down on Ghana’s Second Millennium Challenge Compact, the Power Compact.”