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Ghana Power Market Size and Trends by Installed Capacity, Generation, Transmission, Distribution, and Technology, Regulations, Key Players and Forecast, 2022-2035

The cumulative installed capacity in the Ghana power market was 5.5 GW in 2021. The market is expected to grow at a CAGR of more than 4% during the forecast period. Ghana is rich in renewable energy resources such as biomass, solar, wind, and hydropower potential. The Renewable Energy Act of 2011 gives support to the utilization and development of renewable resources and engages in renewable energy investments. Ghana’s interest in renewable energy also targets to reduce carbon emission and fight climate change. Solar PV and onshore wind are expected to constitute most of the installed renewable capacity by 2035.

The Ghana power market report discusses the power market structure of Ghana and provides historical and forecast numbers for capacity, generation, and consumption up to 2035. The report also gives a snapshot of the power sector in the country on broad parameters of macroeconomics, supply security, generation infrastructure, transmission and distribution infrastructure, electricity import and export scenario, degree of competition, regulatory scenario, and future potential.

Ghana power market overview

Ghana power market overview

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What are the market dynamics in the Ghana power market?

In Ghana, thermal power is the primary source of power generation followed by hydropower. Solar power constitutes the majority of renewable power generation in the country. Ghana exports power to Togo, Benin, and Burkina Faso. It launched its renewable power program in 2011 with the passing of the Renewable Energy Act, which provides for grid access for renewable power producers in Ghana and Feed-in Tariffs (FiTs). Under Ghana’s Integrated Power Sector Master Plan 2019, a major capacity under solar and wind power is aimed to be installed. To attract investors into the renewable sector, the government is providing various incentives to increase the contribution of renewable energy to the total power supply source.

What are the key types of power in Ghana power market?

The key types of power in power market in Ghana are thermal power and hydropower. A major part of thermal generation sources run on mostly natural gas in Ghana. The government is developing other gas resources from the country’s oil fields to provide stability in the supply of natural gas to the nation’s thermal generation facilities. The decline in hydropower generation in recent years is due to the low reservoir levels.

What are the key sectors in the Ghana power market?

The key sectors in the power market in Ghana are the residential sector, commercial sector, industrial sector, and transport sector. In 2021, industrial power consumption had the dominant share in the power consumption market.

Ghana power market, by sectors

Ghana power market, by sectors

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Who are the key players in the Ghana power market?

Some of the key players in the power market in Ghana are Volta River Authority, Sunon Asogli Power Ltd, Bui Power Authority, Karadeniz Holding AS, Aksa Enerji Uretim AS, and TAQA. In 2021, the market was dominated by Volta River Authority.

Ghana power market, by key players

Ghana power market, by key players

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Market report scope

Market size 2021 5.5 GW
Growth rate CAGR of >4%
Forecast period 2022-2035
Key types of power Thermal Power and Hydropower
Key sectors Residential Sector, Commercial Sector, Industrial Sector, and Transport Sector
Key players Volta River Authority, Sunon Asogli Power Ltd, Bui Power Authority, Karadeniz Holding AS, Aksa Enerji Uretim AS, and TAQA

This report provides:

  • Snapshot of the country’s power sector across parameters – macroeconomics, supply security, generation infrastructure, transmission infrastructure, electricity import and export scenario, degree of competition, regulatory scenario, and future potential of the power sector.
  • Statistics for installed capacity, generation, and consumption from 2010 to 2021, and forecast for the next 14 years to 2035.
  • Capacity, generation, and major power plants by technology.
  • Data on leading active and upcoming power plants.
  • Information on transmission and distribution infrastructure, and electricity imports and exports
  • Policy and regulatory framework governing the market.
  • Detailed analysis of top market participants, including market share analysis and SWOT analysis.

Reasons to Buy

  • Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the country’s power sector.
  • Identify key factors driving investment opportunities in the country’s power sector.
  • Facilitate decision-making based on strong historic and forecast data.
  • Develop strategies based on the latest regulatory events.
  • Position yourself to gain the maximum advantage of the industry’s growth potential.
  • Identify key partners and business development avenues.
  • Identify key strengths and weaknesses of important market participants.
  • Respond to your competitors’ business structure, strategy, and prospects.

Key Players

Volta River Authority, Karadeniz Holding AS, Aksa Enerji Uretim AS

Table of Contents

| Table of Contents

| About GlobalData

| Table of Contents

1. Executive Summary

1.1 Renewables to drive the growth of power sector in Ghana

1.2 Thermal power to generate 69% of Ghana’s generation by 2035

2. Introduction

2.1 Ghana Power Market

2.2 GlobalData Report Guidance

3. Ghana Power Market, Snapshot

3.1 Country Summary

3.2 Macroeconomic Factors

3.3 Supply Security

3.4 Opportunities

3.5 Challenges

3.6 Impact of COVID-19

4. Ghana Power Market, Market Analysis

4.1 Market Structure

4.2 Key Market Players

4.3 Financial Deals

 Deal Value and Volume, 2010–2021

 Deals by Type, 2021

4.4 Ghana Power Market, Demand Structure

 Power Consumption by Sector, 2021

5. Ghana Power Market, Regulatory Scenario

5.1 Thermal power Policy

5.2 Hydropower Policy

5.3 Renewable Energy Market, Overview

5.4 Renewable Energy Targets

5.5 Renewable Energy Act

 Net Metering

 Feed-in Tariffs

5.6 National Energy Policy

5.7 Renewable Energy Master Plan (REMP)

5.8 National Energy Strategy

 Renewable Energy Development and Management Programme (REDP)

 Strategic National Energy Plan (SNEP)

5.9 Energy Sector Strategy and Development Plan (ESSDP)

5.10 Sustainable Energy for All (SEforAll)

5.11 Ghana Energy Development and Access Project (GEDAP)

6. Ghana Power Market, Capacity and Generation

6.1 Cumulative Capacity by Technology, 2021

6.2 Total Power Capacity and Generation, 2010–2035

6.3 Thermal Power Capacity and Generation, 2010–2035

6.4 Hydropower Capacity and Generation, 2010–2035

6.5 Renewable Power Capacity and Generation, 2010–2035

7. Ghana Power Market, Transmission and Distribution Overview

7.1 Transmission Network

7.2 Distribution Network

7.3 Grid Interconnection

8. Ghana Power Market, Major Generating Companies

8.1 Volta River Authority

 Company Overview

 Business Description

 Swot Analysis

8.2 Karadeniz Holding AS

 Company Overview

8.3 Aksa Enerji Uretim AS

 Company Overview

 Business Description

 Swot Analysis

9. Appendix

9.1 Abbreviations

9.2 Market Definitions

 Power

 Renewable Power

 Installed Capacity

 Electricity Generation

 Electricity Consumption

9.3 Methodology

 Coverage

 Secondary Research

 Primary Research

 Modelling and Forecasting

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List of Tables

| List of Tables

Table 1: Power Market, Ghana, Macroeconomic Factors, 2010–2030

Table 2: Feed-in Tariffs, Ghana

Table 3: Renewable Energy Master Plan, Ghana, 2019-2030

Table 4: Power Market, Ghana, Cumulative Capacity and Annual Generation, 2010–2035

Table 5: Power Market, Ghana, Cumulative Capacity and Annual Generation Share by Technology, 2010–2035

Table 6: Thermal Power Market, Ghana, Cumulative Capacity and Annual Generation, 2010–2035

Table 7: Thermal Power Market, Ghana, Major Plants, 2021

Table 8: Hydropower Market, Ghana, Cumulative Capacity and Annual Generation, 2010–2035

Table 9: Hydropower Market, Ghana, Major Plants, 2021

Table 10: Renewable Power Market, Ghana, Cumulative Capacity (GW), 2010–2035

Table 11: Renewable Power Market, Ghana, Annual Generation (TWh), 2000–2030

Table 12: Renewable Power Market, Ghana, Major Plants, 2021

Table 13: Power Market, Ghana, Transmission Line Length (Ckm) by Voltage Level, 2010–2025

Table 14: Power Market, Ghana, Distribution Line Length (Ckm) by Voltage Level, 2010–2025

Table 15: Power Market, Ghana, Upcoming Interconnection Projects

Table 16: Abbreviations

List of Figures

| List of Figures

Figure 1: Renewable Power Market, Ghana, Cumulative Capacity, 2010–2035

Figure 2: Thermal Power Market, Ghana, Cumulative Capacity and Annual Generation, 2010–2035

Figure 3: Power Market, Ghana, Country Summary

Figure 4: Power Market, Ghana, Macroeconomic Factors, 2010–2030

Figure 5: Power Market, Ghana, Market Structure

Figure 6: Power Market, Ghana, Market Share of Generation Companies (%), 2021

Figure 7: Power Market, Ghana, Deal Value and Number of Deals, 2010–2021

Figure 8: Power Market, Ghana, Annual Power Consumption, 2010–2035

Figure 9: Power Market, Ghana, Power Consumption by Sector (%), 2021

Figure 10: Power Market, Ghana, Cumulative Capacity by Technology (%), 2021

Figure 11: Power Market, Ghana, Cumulative Capacity and Annual Generation, 2010–2035

Figure 12: Power Market, Ghana, Capacity Share by Technology, 2010–2035

Figure 13: Power Market, Ghana, Annual Generation Share by Technology, 2010–2035

Figure 14: Thermal Power Market, Ghana, Cumulative Capacity and Annual Generation, 2010–2035

Figure 15: Hydropower Market, Ghana, Cumulative Capacity and Annual Generation, 2010–2035

Figure 16: Renewable Power Market, Ghana, Cumulative Capacity, 2010–2035

Figure 17: Renewable Power Market, Ghana, Annual Generation, 2010–2035

Frequently Asked Questions

The power market size in Ghana was 5.5 GW in 2021.

 

 

 

 

 

The power market in Ghana is expected to grow at a CAGR of more than 4% during the forecast period.

The key types of power in the Ghana power market are thermal power and hydropower.

The key sectors in the Ghana power market are the residential sector, commercial sector, industrial sector, and transport sector.

Some of the key players in the Ghana power market are Volta River Authority, Sunon Asogli Power Ltd, Bui Power Authority, Karadeniz Holding AS, Aksa Enerji Uretim AS, and TAQA.

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