Image: Theo Acheampong
Operations and management of the state-owned Electricity Company of Ghana (ECG) has officially been assumed by Power Distribution Services (PDS), a consortium led by Philippines-based electricity company, Meralco.
The official transfer took place during a ceremony last Wednesday in Accra, in which documents outlining the transfer were presented to PDS by Ghanaian government officials.
The consortium is comprised of AEnergia SA, an Angolan company, and three Ghanaian companies, TG Energy solution Ghana Limited, Santa Power limited and GTS Power Limited.
Vice President of Meralco, Ireneo B. Acuna, said that the consortium offers proven expertise, with 115 years of experience serving 6.5 million customers in the Philippines, as well as a myriad of reliable partners to remedy Ghana’s power crisis and make electricity more accessible for its citizens.
“I wish to assure the people of Ghana and all of our local and international partners that PDS is very determined and ready to ensure that the electricity distribution business in Ghana achieves greater levels of efficiency, improved customer service and a high level of reliability and availability of distribution network,” said Acuna.
According to Acuna, the company’s strategic growth plan for Ghana’s power services covers five key initiatives: improving the quality of services, reducing the costs of electricity, investing in internal capabilities, maintaining financial health and spreading and sustaining the benefits of electricity.
To achieve these initiatives, PDS is expected to invest approximately $580 million into ECG during the first five years of its twenty year contractual agreement to run the country’s power distribution services. Under the agreement, ECG will remain the owner of the state’s assets, while PDS will lease the assets from ECG to operate and manage them.