Business News of 2014-02-24

Sunon Asogli to add 1,560 megawatts power

Ghana's energy production is set to increase, following an agreement between the Sunon Asogli Power Plant and the Shezhen Energy Group to produce 1,560 megawatts of power. The agreement

Under the agreement, a new plant is expected to be established by the Sunon Asogli Power Plant to produce 700 megawatts of power using coal.

The first coal-fired power plant is expected to cost $1.4 billion, including a coal facility for coal supply from South Africa.

Again, the existing facilities of the Asogli Plant will be expected to produce an additional 360 megawatts of power.

By the arrangement, the Shezhen Energy Group will also establish a new plant at Domlemi in the Jomoro District in the Western Region to produce 500 megawatts of power. Private sector

At a ceremony in China last Friday, the Minister of Energy and Petroleum, Mr Emmanuel Armah-Kofi Buah, signed the agreement on behalf of Ghana, while the President of the Shezhen Group, Mr Hong Cao, signed for his group.

Speaking to the Daily Graphic from China, the minister said the government was very committed to creating an environment for the private sector to flourish.

He said the focus of the government was to ensure that it was a step ahead of the growing demand for power in the country.

He said the China Hunan Energy company was already in the country and was aware of the country’s increasing power demand.

He said the country, from all indications, was on the verge of becoming a net exporter of power in West Africa. Gas deposit offshore

The current gas deposit of the country, after various exploratory activities, indicates that Ghana has over nine trillion standard cubic feet of gas, which could guarantee the country several decades of constant power supply.

Currently, the Ghana Gas Project is underway, with an installed capacity of about 120 million standard cubic feet.

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