Turkey’s Aksa Enerji has signed a five-year power purchase agreement (PPA) with Ghana to install a 370MW power plant, electricity generation and the guaranteed sale of the energy, it said Aug. 10. “This agreement has been approved by the parliament of the Republic of Ghana and preliminary conditions are waiting to be completed, such as letters of credit, approvals of operation and production licenses from the authorities,” said a statement to the Public Disclosure Platform (KAP). As per the agreement, Aksa Enerji will sell the electricity generated in full to Ghana with purchase guarantees and at the total price stated in the agreement in U.S. dollars via long term PPA, according to the statement. The power plant is expected to be operational by the end of the first half in 2016 and is expected to increase operational profitability significantly, said the company. “With this investment, Aksa Enerji is venturing into African countries in need of energy and infrastructure investments and thus aiming to increase its profitability and reduce the effect of foreign exchange losses by increasing its dollar-based sales,” it added.
Turkish Aksa inks deal with Ghana to build 370 MW power plant
As per the agreement, Aksa Enerji will sell the electricity generated in full to Ghana with purchase guarantees and at the total price stated in the agreement in U.S. dollars via long term PPA, according to the statement.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Yahaya Bello stripped of police protection as IG withdraws officers attached to him
No need to run when EFCC invites you, Cubana Chief Priest advises Nigerians
Immigration places wanted Yahaya Bello on watchlist, unveils his passport details
Oyo govt justifies demolition of Yoruba Nation agitators’ building
NAFDAC raids popular supermarket in Abuja for selling counterfeit products
Iranian morality police crack down on women who don't wear headscarves
FG sets up committee to compensate landowners affected by Lagos-Calabar road project
Kano Gov remains a bona fide member of our party - NNPP debunks suspension
We need ₦3.2trn to pay electricity subsidy in 2024 - FG
Pulse Sports
Lionel Messi's son breaks the internet after scoring five goals for Inter Miami
Naija Stars Abroad: Onyedika, Boniface, and Osimhen shine across Europe
Victor Osimhen and Tobi Amusan make list of Forbes’ 30 under 30 Class of 2024
ADVERTISEMENT