Karpower International Limited a Turkish company expected to build two emergency power ships for Ghana says the project is pre-financed and the cost would be paid on the amount of energy delivered to the system.
The two mobile energy plants when delivered will add four hundred and fifty more megawatts of power to the national grid. The company is expected to construct, deliver and operate the plants as an independent power producer.
The Ministry of Energy and Petroleum says the project is part of efforts by government to achieve the 5000 Mega Watts target by 2016. Minister of Energy and Petroleum Emmanuel Armah – Kofi Buah at a ceremony to start the final stage of stakeholder negotiations for the project commencement called on all stakeholders to work diligently and speed up the final phase of negotiations to see the project come on stream by 2016.
Karpower’s Regional Director for Africa and Asia Patrick O’Driscoll says the project is a self finance project and the government of Ghana has no financial commitments to it except for providing the enabling environment and all the legal backing with licenses to see the project take off successfully.
“The Power ship in itself has been pre-financed by Karpower International and the off taker agreement would be paid on delivered energy into the system and so there is no government financing attached to the project.”
Patrick O’Driscoll also commented on the total cost of the project saying that the total cost of the overall project will vary depending on the cost of fuel through the term of the contract and would also depend on the amount of kilowatts per hour of power that would actually be dispatched and absorbed by the networks and so over the term that would be a moving number.
