Business News of Saturday, 16 December 2017
In order to help Ghana meet its industrialization targets, Siemens and Rotan Power have signed a memorandum of understanding (MoU) to develop and build a combined cycle power plant with a capacity of 660 megawatts (MW) at the Aboadze Power Enclave, in the Western region.
The MoU was signed in the presence of the vice president Dr. Mahamudu Bawumia and Brigitte Zypries, the German Federal Minister of Economics and Energy.
A statement from the companies said the plant will be the most efficient and environmentally friendly thermal plants, setting new standards in sub Saharan Africa.
It will be built in two phases, with commercial operations date of the first phase scheduled for 2023 with the second phase scheduled for 2025.
The German Export Credit Agency and Euler Hermes are set to provide financing for the project, which would be the largest plant in Ghana.
The Chief Executive Officer of Siemens Sub-Saharan Africa, Sabine Dall’Omo says: “This project underlines the strategic partnership between Germany and Ghana and underpins the engagement of Siemens as a leading global technology company in Africa. Together we will provide electricity to more than five million Ghanaians unlocking the economic potential by using power as a catalyst for socio-economic development.”
Chairman of Rotan Power, Mr. Kofi Morna says: “Rotan is delighted to partner with Siemens in deploying the first F-Class turbine in sub Saharan Africa, with the lowest generation cost among thermal power producers in Ghana. Together with Siemens we will power the country and further improve access to electricity for our population. Furthermore the partnership will enable us to leverage skills transfer and training for Ghanaians.”
Siemens is responsible for the entire EPC turnkey scope. In addition Siemens – will provide Operation and Maintenance for 20 years. GNA