Energy

Twin City power project ready to deliver reliable power to Ghana

Twin City Energy will facilitate increased access to affordable and reliable electricity whilst accelerating Ghana’s transition to a low-carbon energy system

THE 200MW dual-fuel combined cycle power plant, Twin City Energy power generation facility, will deliver affordable, reliable, low-carbon baseload power to Ghana. The project will use 33 mscfd of local natural gas supply as its primary fuel.

Twin City Energy will facilitate increased access to affordable and reliable electricity whilst accelerating Ghana’s transition to a low-carbon energy system by adding 200MW of baseload power at one of the lowest tariffs in the country and using 33 mscf/d of natural gas from Ghana’s offshore fields.

The project, which created more than 1,750 direct jobs – the majority of which were Ghanaian – during construction, will also provide direct socio-economic support via local job creation by employing more than 100 people – 98 percent Ghanaian – to operate and maintain the plant.

The project was developed and is owned by international equity sponsors including Endeavor Energy Holdings (Endeavor), Anergi Group (Anergi), African Infrastructure Investment Management (AIIM) and members of the Amandi Founding Group, who initiated the development of the project.

Twin City Energy was financed by a consortium of global lending and development finance institutions consisting of the US International Development Finance Corporation (DFC), the UK’s CDC Group, Rand Merchant Bank (RMB) of South Africa and Nedbank of South Africa.

Reginald France, the general manager of Twin City Energy and Ghana country managing director for Endeavor, said: ‘The pedestal on which Ghana’s Economic Transformation Agenda will rest upon is sustainable, cost-effective power generation. The management and the entire staff of Twin City Energy are excited to play a part in this transformation by getting this 200MW combined cycle plant into commercial operation.’

Justin DeAngelis, a partner at Denham Capital, commented: ‘We are extremely proud of the role that Twin City Energy and Endeavor are playing in the development and strengthening of Ghana’s power sector. The continued support of the Government of Ghana enabled the project to overcome various challenges during the construction of the plant, intensified by the global pandemic.

‘I would also like to recognise our lending partners, DFC, CDC, RMB and Nedbank, for their commitment and flexibility, which were critical to achieving commercial operations. Achievement of this significant milestone will bolster Ghana’s efforts to modernise and lower the cost of its power generation for its citizens and industries.’

Stephanie Sullivan, the US Ambassador to Ghana, added: ‘One of our top priorities is to increase mutually beneficial two-way trade as well as economic growth and investment in Ghana. This project is just one significant example of the successful partnership between the U.S. DFC, a strategic American energy firm, private financial investors, and Ghana’s power sector.’

 

 

 

Source
ESI-Africa

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