Ghana has a population of 31 million. It is expected to grow by 22% and reach 37.8 million by 2030. This increase in population will result in a need for additional resources. The power sector will require an additional 450 Megawatt of electricity capacity by 2030. This is based on purely future population demand and ignores any industrialisation requirements or current shortfalls in access to power.
Investment required by Power Sector
The energy mix is diverse but assuming a capital investment of $1.2 per watt, Ghana will require an estimated $540 million to provide 100% access to power for the additional population over the next 10 years. This includes 195 Megawatt for the 5 million people currently without access to power and 255 Megawatt for the 6.8 million people that will be added to the population over the next 10 years. This investment excludes the transmission and distribution costs required to reach the end-consumer.
West African Access to Power in 2018 (% of the population)
Source: ABiQ; World Bank (2018)
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