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Energy Early Power deal to add 400MW power to the country’s energy mix

The Early Power deal, passed by parliament in August, paves the way for the installation of the 400 megawatts of power to the country’s energy mix.

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play The project is expected to come on stream in the next six month. (esi-africa)
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As Ghanaians go through an excruciating power crisis that has crippled businesses and make citizens uncomfortable, the passage of the Early Power deal comes as a relief to citizens who are yearning for an improvement in their power supply.

The Early Power deal, passed by parliament in August, paves the way for the installation of the 400 megawatts of power to the country’s energy mix.

This, many industry players agree, will go a long way to stabilize the country’s energy shortfall.

The Early Power deal is an agreement with the government, together with ECG, Sage Petroleum Limited, Endeavor and EPL Holdings, General Energy Investments, and Quantum Gas Terminals.

As part of the agreement, Early Power Limited will be responsible for the development, ownership, operation and management of the combined cycle gas turbine power plant.

The project is expected to come on stream in the next six month.

According to the African Centre for Energy Policy (ACEP), the project will have a positive impact in the short to medium term.

This “will have a positive impact for Ghana in both the short and long term” ACEP said in a statement. The initial 144MW in six months will help meet near term shortages and “offers ECG certain flexibility – its first stage includes five gas turbine units of 28.5MW each that can operate independently and which can be started, stopped and then restarted all within one hour. This will allow ECG to more efficiently dispatch to match actual power demand”.

ACEP also noted that the construction of LPG import and storage infrastructure “increases Ghana’s fuel diversity and security”.

ACEP also said, “the project provides a flexible arrangement such that ECG does not have to escrow funds to raise a letter of credit for default bill payments as required under most recent PPAs”. And it “is further sponsoring the financial guarantee against debt repayment”.

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