Akufo-Addo commissions 200MW plant to boost economic growth

President Akufo-Akufo has commissioned a 200-megawatts combined cycle power generation plant as part of efforts to ensure a constant supply of electricity.

The Bridge Power Station located at Kpone in the Tema industrial area is the first phase of a 515-megawatt project at a cost of cost $1.2 billion.

At the event, president Akufo-Addo assured that the country will strive for energy efficiency avoiding a repeat of erratic power supply in the past.

“All of us remember the difficult period of dumsor between 2012 and 2016 under John Mahama which disrupted lives and livelihoods.

Through this project, we send a clear message that Ghana will no longer be held back by the energy shortages of the past”

He believes a stable power grid will stimulate economic growth and have a direct impact on other sectors including education, and health among others.

“In April 2017, we stood on this very soil to break ground for what will become a monumental achievement.

“The vision of the project is grounded in Ghana’s desire to harness cutting-edge technology and innovative solutions to power our future”, he said.

President Akufo-Addo praised Endeavor and other partners for keeping faith as the project will reduce pressure on existing infrastructure, meeting present needs and demands of the future.

The bridge project according to him will fuel an industrial revolution that will unlock Ghana’s potential, attract direct foreign investment create jobs and boost the country’s electrification programme.

President Akufo-Addo admitted to financial challenges within the space impacting their ability to meet obligations to the partners.

The project is being executed by Early Power Ltd, a consortium of Endeavor Energy, a US independent power producer and Andaris, a wholly-owned Ghanaian energy investment company.

Phase 2 of the project will add 315 megawatts to the national grid by 2029.

Chief Executive Officer of Early Power Ltd, Brian Herlihy said the milestone achieved reflects their commitment to the cause of delivering power Electricity Company of Ghana for the next two and half decades.

He called for policies and environment that encourage investment in industrial, manufacturing or services.

With the independent power producers coming in in 2015 to help address the country’s energy challenges, he pointed out issues of sustainability and liquidity.

“It is imperative that we work together to solve this problem before it’s too late as Bridge worked with government to restructure power purchasing agreements in helping secure IMF funding.

Energy minister, Herbert Krapa beyond the achievement has called for close collaboration between Bridge Power and its partners, government, the ministry and its agencies to work together in ensuring efficient dispatch.

“We have done so with other power plants and that commitment we make to Bridge Power too and are ready to give our support for this facility to work well together with ECG, VRA and Gridco who double as a system operator to ensure this plant is integrated seamlessly in the power generation pool”

According to the Managing Director of the Electoral Company of Ghana, David Asamoah the project will boost Ghana’s dependable thermal generation capacity by 7% with cutting-edge efficiency.

He was grateful to the external partners for the support but called on all players to help build a future where energy catalyzes economic growth and social progress.

US Ambassador to Ghana, Virginia Palmer shares how Endeavor and GE helped in developing the initial concept aside from supplying equipment for the plant touching on the role of US Development Cooperation in providing financing for Endeavor’s investment in Ghana.

She assured that the US will continue to champion Ghana’s economic growth.

Virginia Palmer highlighted the impact of USAID Power Africa’s partnership with the Energy Ministry which has contributed to over 461,000 new connections for Ghanaians in over 5 years to increase accessibility.

“The project will help Ghana achieve its long-term vision for the energy sector equipping Ghanaians with valuable technical skills for both domestic and international power sectors”

She did not leave out challenges in the sector including arrears of money owed to companies that have already provided goods and services which she fears would deter new investors and can undermine success.

The bridge power station was initially designed to operate on liquefied petroleum gas as primary fuel with the needed infrastructure in place but was converted to operate on natural gas following the production of same locally and its transportation network

The post Akufo-Addo commissions 200MW plant to boost economic growth appeared first on The Ghana Report.