By RC. QUAYE
It’s been over 50 years since Ghana’s first hydroelectric power station was built, with the intention of strengthening the industrial hub of the country.
Its inception has benefited both foreign processing companies that guaranteed its acquisition and neighboring countries getting the excesses in supply.
The Tema industrial enclave is a living testimony to the establishment of the Akosombo Dam. Ghana’s quest for alternative or additional electrical power supply has always come on the heels of power supply shortages due to yearly increases in demand.
The addition of two hydropower units, namely the Akuse and Bui hydro stations, especially the Bui power station, was a decision by the NPP government upon realizing our dependence on fossil fuels was becoming unbearably expensive and was not supportive of the country’s industrial agenda, even though such a plan was borne in the 1960s as part of the numerous hydropower stations proposed by the then CPP government from the Northern region down to the south.
Failure to plan for adequate electrical power to meet our demand at competitive industrial rates has led to alternatives that seem to extort us and at the mercy of investors providing us with expensive alternatives that only solve our daily domestic needs without any consideration to climate change.
One may seek the efficiency achieved in the addition of power generation units if the numerous thermal power installations and Ghana’s oil and gas discoveries had not significantly reduced the cost of electrical power in the nation.
The global demand for electrical power is growing at an exponential rate, especially with the development of EVs and high demand for computational power for the new generation technology. Ghana stands at a disadvantage if it projects its electrical needs on solar installation and fossil-dependent power generators.
In 2026, Egypt will be commissioning its first 1.2 GW nuclear power reactor, with three additional ones totaling over 4.8 GW of electrical energy. The estimated cost of the 4 reactors stands at $28B, with Egypt providing $3B. The loan interest will be paid within 25 years, which will be owned and operated by the Nuclear Power Plant Authority (NPPA) of the Arab Republic of Egypt.
It will be the first major nuclear power project in northern Africa and is expected to account for up to 50% of Egypt’s power generation capacity.
The commissioning of the first unit is expected to begin in 2026, and the plant will be operating at full capacity with all four units by 2030.
The project is expected to boost the country’s economy and industrial development by creating up to 50,000 jobs. Also, Saudi Arabia, with its excessive reservoir of crude, has realized the non-reliability of fossil fuel in power generation and has opted for an alternative to meet its growing demand.
The dream for Ghana to acquire sky trains and cargo transport trains seems like ‘playing dumb in the midst of fools.’ Knowing very well that most trains are electrically powered and one’s electrical energy supply needs to be very reliable, stable, and affordable before such ambitions could be realized.
We spend two million dollars on a sky train feasibility assessment while the means to power such a dream is lacking. As a country, all indications prove to knowing what is needed to industrialize but not being willing to take the ‘bull by its horn.’ Ghana has borrowed more money for power sustainability, improvement of the ECG metering system, upgrading of transmission lines, etc.
Yet our power crisis keeps on popping up every time crude/gas prices rise or the rain goes on holiday. We seem to be on top of issues and find solutions to our short-term power crises.
The merry-go-round of Ghana’s nuclear power ambition might take us over 100 years or more if there is no commitment and dedicated funds allocated to achieving the milestones needed for its establishment.
Ghana’s nuclear ambition needs a committed and continuous government effort. The nuclear power project will rake in capital from neighboring countries, make electrical power cheaper for competitive industrial markets, reduce the dependency on imported fossil fuels, and reduce the impact on climate change while creating jobs.
It is my prayer that we just don’t become managers of what was built for us but add a better alternative to what we inherited.
The writer is a Research Scientist—Ghana Atomic Energy Commission
The post The merry-go-round of the industrial growth appeared first on The Business & Financial Times.
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