Electricity Company of Ghana's Distribution and Retail Business Concession

cancelled

The project involves a concession agreement whereby the power distribution and retail business of state-owned Electricity Company of Ghana Ltd (EGC) has been handed over to Power Distribution Services Ghana Ltd (PDS). PDS is a consortium is made up of Meralco, AEnergia SA and 3 Ghanaian companies holding 51% stake (TG Energy Solutions Ghana Ltd, Santa Power Ltd, and GTS Power Ltd). The 20-year agreement took effect on 1 March 2019. ECG will sell energy in bulk to PDS. PDS will in turn pay for the energy consumed and make lease payments to ECG for using its networks. PDS plans to invest more than $ 580 million and it will be responsible for electrical network operations including regular maintenance, fault repairs, commercial operations (billing, revenue collection, new services connections and investments, rehabilitation, expansion and network extensions). On 23 October 2019, the Electricity Company of Ghana stated that it terminates the agreements with Power Distribution Services Ghana and assumes full operational and financial control of the electricity distribution business with immediate effect. http://www.ecgonline.info/index.php/media-center/press-release/453-the-md-s-speech-on-media-engagement-on-ecg-s-new-business.html http://www.ecgonline.info/index.php/media-center/press-release/455-press-release-on-ecg-s-new-business.html http://www.ecgonline.info/images/2019/pdsTermination.pdf