The country may either sell a part of the ownership or bring in a private operator through a concession.
This move will enable Ghana seek financial support from the US foreign aid agency Millennium Challenge Corporation (MCC).a
The West African is facing 24-hour power blackouts due to power shortages.
Under a five-year Ghana Power Compact project, MCC released $498m in 2014 to improve power distribution in Ghana.
The compact project requires the Ghana Government to implement policy and institutional reforms for further aid.
MCC resident country director Deidra Fair James was quoted by Bloomberg as saying: "The government in the compact agreed to a partial privatization — a percentage of shares yet to be determined — or a concession."
James said that the government will float tenders for a partner in the second half of the year, upon deciding whether to sell a stake or appoint an operator.
