The Ghanaian government has signed a 20-year power purchase agreement for a 400MW greenfield Bridge Power project.
The Early Power Consortium, which is comprised of Endeavor Energy (an Africa-focused independent power development and generation company), Sage (an independent trading firm in Ghana), and GE, through its power division, will be responsible for the development of the Bridge Power project in Ghana.
Ghana’s Institute of Statistical, Social and Economic Research estimates a $320 million to $924 million loss in economic growth which occurs as a result of the inconsistent power supply.
Ghana has set a goal of achieving total electricity access by 2020. With the help of this project, which has been approved by the government, the power shortages are likely to be overcome.
The project will be developed in two phases. The first phase will generate 194MW while the second phase will generate 206MW.
“Bridge Power is the first of its kind in Ghana. We’ve customised the project to provide quick and reliable energy production for Ghanaians in order to assist Ghana’s economic growth and to create jobs,” said Endeavor CEO Sean Long.
“Our understanding of Ghana’s long-term vision for its power sector is built on having reliable and diversified energy, and Bridge Power checks all those boxes.”
GE will provide 400MW of power generating capacity through gas turbines and steam turbines.
“Bridge Power for GE is much more than just another power plant. This project represents the first integrated gas-to-power project we will successfully deploy on the continent.
Our goal is to successfully create and implement a gas-to-power project that includes a full gas solution and financing package, and then deploy this model to other countries that are not endowed with cost-efficient fuel sources.”
Sage is responsible for the fuel supply and the gas-to-power fuel solution for the project while Endeavor is providing most of the equity investment. Endeavor will also manage the construction, operation and maintenance of the plant.
The Bridge Power project will be implemented in the town of Tema 25 kilometres (16 miles) east of Accra, and it will provide 12% of Ghana’s 2020 power-generation goals.