A statement issued by the Authority in Accra on Thursday said the Meralco would manage the daily operations of the largest power distributor in the country for a period of 20 years under a concession agreement signed between the government of Ghana and Meralco.
The statement said the concessionaire would inject $580 million into the distribution system of the company in the first five years.
The MiDA Board of Directors statement assured the public of a smooth takeover, following the failure of the company to assume the reigns of the Ghanaian power distributor in February 1, 2019.