Business News of Tue, 4 Aug 201516
225 MW Karpower barge to arrive in Ghana by October
The much talked about Karpower barge from Turkey is now set to arrive in the country in October.
Engineers working on the 225 megawatts power ship are almost done with their work to set sail to Ghana.
For many this news, which Joy Business has picked up from the Engineers working on the barge, should come as good news after several postponements.
Authorities are hoping to connect the barge to the national grid by the first week in November 2015.
It is believed that the arrival of the barge might go a long way to stabilize the current power crises which have resulted in a serious load shedding program.
The crises have seen the input cost of businesses hit the roof, which has also resulted in a lot of layoffs and closure of a lot of firms in the country.
It is believed that the expected arrival of this power barge is one of the major reasons that has influenced the power ministry’s projection that the current crises will stabilize by the end of this year.
Karpower in 20014 signed an agreement with the Electricity Company of Ghana (ECG) to provide about 450 megawatts of power to the country.
The 10-year agreement would eventually supply 22% of the country's power generation need.
It was believed that the company was initially contracted to provide an emergency power to Ghana, but Karpower's Africa and Asia Director, Patrick O'Driscoll denied that claim.