Ghana to receive US $70m investment in Bridge Power project

04 February 2019

Ghana is set to receive US $70m worth of power
generation investment from Hungary for the first stage of the 400MW Bridge
Power Project, the biggest plant in the country.

Hungary’s Ambassador to Ghana, András Szabó said the investment
includes three out of five GE aero-derivative gas turbines (TM 2500) that will
be used to operate this first stage of the power plant and highlights Hungary’s
commitment to building a strong economic relationship with Ghana.

“The ‘Ghana Beyond Aid’ agenda set by the President
of the Republic, Nana Addo Dankwa Akufo-Addo, can only be achieved by
diversifying the economy towards manufacturing and agro-processing that will
create reliable and stable jobs for our unemployed youth for resilient growth.
These ambitious dreams can only be achieved with adequate and reliable power,”
said András Szabó.

The Bridge Power project will be located
in the thermal power complex in Tema. It will overtake the Bui
hydropower and will provide provide a significant portion of the country’s
current reliable generating capacity with more than 400MW of efficient,
combined cycle power.

Construction works of the million-dollar project
will include infrastructure to import, store and transport LPG. The fuel import
infrastructure will be handed over to the Tema Oil Refinery (TOR) and will be
open to multiple users and significantly increase Ghana’s LPG import

The Project will enhance Ghana’s energy security as the plant is capable of being fuelled by liquefied petroleum gas (LPG), natural gas or diesel and will be responsible for importing its own fuel. An additional investment of multi-million dollars’ worth of equipment will come from Hungary as part of Stage 2 of the Project. The power project is estimated to power more than two million homes. Bridge Power is sponsored by the Early Power Limited (EPL) consortium, comprising Endeavor Energy, leading independent power development and generation company focused on Africa; Sage, Ghana’s indigenous trading firm; and General Electric Power (GE), the world energy leader. Stage 1 is under construction by Metka, a leading Engineering, Procurement and Construction (EPC) company.

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