GHANA is to receive a $70 million 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 confirmed the reports, saying that 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 of ours can only be achieved with adequate and reliable power,’ said András Szabó.
The Bridge Power Project
The Bridge Power project will be located in the thermal power complex in Tema. It will overtake the Bui hydropower and will 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 capability.
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 2million homes. Bridge Power is sponsored by the Early Power Limited (EPL) consortium, comprising Endeavor Energy, a 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.