Business News of 2014-04-24

Shenzen China to build 700 MW coal plant in Ghana

Shenzen Energy Group China through its local partners Sunon Asogli Power says it is prepared to invest about 1.5 billion dollars in a coal power plant to produce 700 megawatts of power if given the go ahead.

According to the chairman of Sunon Asogli Power Company, Li Xiaohai they have already conducted feasibility studies which includes building a sea port and related facilities to receive the coal for production of power.

Briefing journalist in Accra Mr. Xiaohai indicated that they have so far received massive support from stakeholders, key amongst them being the government of Ghana to establish the coal plant to produce electricity.

Explaining the concept, the chairman of Asogli Power Plant indicated that he is positive that the energy to be produced by the coal plant once integrated into Ghana’s energy mix will help in reducing the cost of electricity.

He said “producing electricity from coal is far cheaper than even using Gas”. According to him although they have received favorable response from government the deal is yet to be finalized for it to become operational.

In order to ensure sustainability and reliability he explained that the coal will be imported from South Africa but also indicated that even before they start they are already assessing other markets where they can import the commodity.

On the issue of timelines he indicated that after receiving the green light they are positive of meeting a 5 year completion time where the plant and its related facilities will be available.

To have an operational coal plant, there is the need to build a port which will serve as receiving point for the commodity. “we are going to build a habour and we have so far identified a location in the Western Region appropriate for such facility”. Mr. Xiaohai said.

He further indicated that the coal power plant will be directly located where the habour or port will be to make it cost effective. According to the company the technology available for the plant makes it energy efficient and environmentally friendly.

Source: Citifmonline.com
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