GE, Endeavor Energy and Finagestion team up to boost Ghana's power supply
When complete, this innovative integrated gas-to-power project will deliver more than 1,000 MW of electricity to Ghana’s national power grid.
The JDA signing ceremony took place at the Ministry of Energy offices and was witnessed by Ghana Deputy Minister for Energy Hon John Janakpor, John Rice, Vice-Chairman and President and CEO of GE Global Growth and Operations and senior officials from GE, Endeavor Energy and Finagestion.
The Ghana 1000 Project will be located in Western Ghana. It will combine the importation of liquefied natural gas (LNG), a dedicated Floating Storage and Regasification Unit (FRSU) to receive, store and regas, while associated infrastructure will transport natural gas on-shore to advanced GE turbines to generate efficient, clean power.
The Ghana 1000 Project Consortium is a purely private sector, independent power producer initiative with zero direct financial contribution from the Government of Ghana.
The Government’s role has to been to create an enabling environment and regulatory framework to allow the project partners to fast-track the addition of critically needed power to the national grid.
The Government will also facilitate a long-term agreement with the Electricity Company of Ghana (ECG) and potentially other power off takers of the purchase of power from the project. Ghana presently has installed generation capacity of 2,412 MW and dependable generation capacity of 2,125 MW.
The first phase of the Project is expected to begin delivering power by early 2017, initially producing 360 MW in simple cycle mode.
When completed in early 2018, it will generate more than 540 MW in combined cycle mode. The second and final phase of the Project is expected to be implemented before 2019.
The combined completion of all these phases will create one of the largest single Power Parks in sub-Saharan Africa generating in excess of 1,100 MW of power.
Speaking on behalf of the Ghana Government, Ghana Minister of Ghana, Hon John Janakfpor said: “We thank the Ghana 1000 partners for keeping their commitment to support government efforts to boost electricity generation and lower the cost of power in Ghana.
“The Ghana Government will facilitate and fast track all approvals and permits and provide adequate credit enhancement in a transparent manner.”