Ghana loses $190m from the US over cancelled power deal

Ghana has lost the second tranche of a grant amounting to $190 million provided by the United States to improve its power supply. This is based on a decision by the government of Ghana to terminate an agreement with the Meralco-led Power Distribution Services over invalid demand guarantees. The country’s power distributor, the Electricity Company was taken over by the Philippines Meralco Consortium. The takeover by the consortium known as Power Distribution Services, PDS Ghana Ltd took effect in March this year. The PDS Ghana Ltd was expected to take charge of…

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