Symbion Power will start the construction of a 100MW power production plant in Ghana using natural gas and jet fuel beginning July this year. This is according to the American electricity generation, transmission and distribution company’s Chief Executive, Paul Hinks.
Symbion Power will finalize a power purchase agreement with the government this week. In addition the company has already signed a letter of intent and is expected to add 430MW to the national grid which is estimated at a cost of US$700m once the country’s gas infrastructure is completed.
The decision by Symbion to invest in Ghana was arrived at after intense negotiation with the chief executive of the Ghana investment promotion center, Mawuena Trebah. According to Trabah, tariff negotiation between Symbion, the Energy Ministry and the Electricity Company of Ghana will be concluded this week to the mutual benefit of all the parties. Last year, the Energy and Petroleum Minister Emmanuel Armah Kofi Buah and Paul Hinks signed the letter of intent in the US to formalize the deal.
According to Paul Hinks, as part of the deal, the company will offer training for Ghanaians abroad who will in turn train local expertise who will be employed at the plant.
Due to current energy crisis facing Ghana, the 100MW will be available during peak hours because of the expensive jet fuel which will be used to run the turbines until the gas infrastructure in the country is completed.
Electricity generation is one of the key factors that will enable Ghana achieve the development of its national economy. With aggressive and rapid industrialization, Ghana’s national electric energy consumption was 265 kilowatthours per capita in 2009.
Ghana generates electric power from hydropower, fossil-fuel, thermal energy and renewable energy sources.
Symbion Power also has gone into partnership with Jyoti Americas and Iroko Capital Partners to establish the Western Sahara Transmission Company Limited in response to the massive demand for increased power transmission and distribution in Nigeria.