THE SHORT and long term measures implemented by government to safeguard and boost the nation's energy sector requirements for accelerated growth is to receive another support as Atholl Energy Ghana Limited will commence work on a 320 megawatts turbo power plant.
The facility valued at $200 million would be sited at Takoradi in the Western Region, with funds for the project to be provided by private commercial banks in London.
The project, which would take three years to complete, would be carried out in collaboration with Siemens Industrial Turbo Machinery (UK) and would be powered on a gas turbine technology.
Already, Atholl in collaboration with Siemens Industrial Turbo-Machinery have signed an agreement with the Ministry of Energy to begin construction of a 75 MW gas turbine plant support for the nation.
Disclosing this in an interview with CITY AND BUSINESS GUIDE, Craig Murray, Chairman of Atholl Group said since Ghana's economy is growing at an annual rate of 6 percent per annum with increases in power demand especially from the industrial sector, there is the need to support the country to achieve its target.
Recounting the good reputation of the nation, which made it possible for his outfit to secure private financing for the project, he said, “Commercial banks in London are always willing to lend monies to investors and corporate entities to do business in Ghana because of its stable economy.”
He added that the project after completion would help forestall any dangers regarding electricity supply and augment the ever increasing demand of power for industry, which is expected to consume 700 MW annually soon.
While the first phase of the 75 MW project to be sited in Tema is expected to commence in February next year and will see the production of 25 MW by April 2008, the second phase of the project would generate 50 MW and would be completed in September 2008.
When completed, the gas turbine which can use both diesel and gas is expected to be connected to the national grid.
Importantly, both projects would later be connected to the West Africa Gas pipeline to source gas for its operations, when it begins.
By Patrick Baidoo