Ghana Power Market Size and Trends by Installed Capacity, Generation, Transmission, Distribution, and Technology, Regulations, Key Players and Forecast, 2022-2035
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Ghana Power Market Overview
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
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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
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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
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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.
Karadeniz Holding AS
Aksa Enerji Uretim AS
Table of Contents
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Frequently asked questions
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What was Ghana power market size in 2021?
The power market size in Ghana was 5.5 GW in 2021.
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What is the Ghana power market growth rate?
The power market in Ghana is expected to grow at a CAGR of more than 4% during the forecast period.
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What are the key types of power in Ghana power market?
The key types of power in the Ghana power market are thermal power and hydropower.
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What are the key sectors in Ghana power market?
The key sectors in the Ghana power market are the residential sector, commercial sector, industrial sector, and transport sector.
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Who are the key players in the Ghana power market?
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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