Page 10 - AfrElec Week 08 2023

AfrElec TRANSMISSION AND DISTRIBUTION AfrElec

GRIDCo to earn first revenue from

exported electricity since 1983

GHANA THE Ghana Grid Company (GRIDCo), a In October 2022, as
national power transmitter, is set to earn revenue part of the West Africa
for the first time since 1983 due to the export of Power Pool (WAPP),
power to neighbouring countries such as Togo, Ghana commissioned
Benin, Ivory Coast and Burkina Faso. a GRIDCo and Ivory
The company has been struggling with late Coast-based CI Ener-
payments from its bulk customers, including the gy-built 330 kV power
Electricity Company of Ghana (ECG), Northern line, which seeks to
Electricity Distribution Company (NEDCo), as reinforce the country’s
well as the mining industry. transmission system and
Company chief executive Ebenezer Essienyi to ensure the export of at
said the development was very important and least 100 MW of electric-
would support the operations even if delays in ity to Burkina Faso.
payment from its bulk clients persist. This development is therefore expected to
“For the first time since 1983, the line between enhance the revenue base of GRIDCo to enable
Prestea and Cote d’Ivoire was used for friendly it to invest in improving transmission infrastruc-
commercial business. Money wasn’t exchang- ture and ensuring a reliable and stable supply of
ing hands, but this time our brothers from CI electricity.
Energies have come for us to sign an agreement It is also expected to have a positive impact
that will enable us to earn significant revenue,” on Ghana’s power sector which has undergone
Essienyi said. several challenges in the last decade.™

BATTERIES
MIIF to invest initial $30mn in

Atlantic Lithium

GHANA GHANA’S state-owned Minerals Income Commenting on the development, MIIF
Investment Fund (MIIF) has started negotia- chief executive Edward Nana Yaw Koranteng
tions to invest $30mn in Australian exploration said his outfit is not only interested in develop-
and mining firm Atlantic Lithium Ltd, the fund ing the mineral resource, but also in investing in
announced on February 16. the value chain in order to support an EV market
MIIF plans to take up an equity stake in the in Ghana.
Atlantic, an Africa-focused company that has a “Our strategic focus is to support the devel-
50% off-take agreement from US-based lithium opment of lithium processing, development of
developer Piedmont Lithium for Ghana-pro- battery manufacturing and additional inputs
duced lithium. and the preparedness to support an EV market
This comes in the wake of Atlantic’s discovery in Ghana to serve the sub-region,” he said.
last year of lithium in commercial quantities at According to him, the EV market represents a
its Ghana Ewoyaa project, which the AIM- and $7 trillion market opportunity between 2023 and
ASX-listed company says is on track to become 2030 and $46 trillion between 2023 and 2050.
West Africa’s first lithium-producing mine. “This represents opportunities for Ghana
Earlier this month, the company announced which can be leveraged by the current auto-
an upgrade to its Mineral Resource Estimates mobile development plan that has seen six car
(MRE) within the Cape Coast lithium portfolio assembly plants already established in Ghana,”
to 35mn tonnes at 1.25% lithium oxide (Li2O), Koranteng said.
including 28mn tonnes in the measured and “The by-products of lithium such as feldspar
indicated categories. also provide a new stratum of opportunity. Feld-
Lithium is used in batteries for electronic spar is the main mineral resource needed to pro-
(EV) vehicles and used in energy storage and duce ceramics and MIIF is positioned to support
consumer electronics. the development of the use of the feldspar.”™

P10 www. NEWSBASE .com Week 08 22•February•2023