Pulse.com.gh logo
Go


Power Plant Controversy Early Power deal now 647m dollars and NOT 953m dollars

 The committee insists the tariff charge in the deal pegged at 12.4 cents per kilowatt hour( per kWh) is the best considering the charge for other plants in the country.

  • Published: , Refreshed:
Parliament of Ghana play

Parliament of Ghana

The Chairman of the Mines and Energy Committee in Parliament Alhaji Amadu Sorogo has confirmed the 400 megawatts Early Power deal will cost around 647 million dollars and not the speculated 953 million dollars.

“The actual cost of the project is unknown, so the earlier figure was not definite. More so government and the Electricity Company of Ghana have placed a ceiling, and this is 647 m dollars”, he revealed.

A Member of Parliament’s Energy and Mines Committee Isaac Asiamah in an earlier interview said ,“There was an initial agreement and the total amount involved was an amount of $647.7million that was the initial agreement and the megawatt involved is 344 and there was an additional 56 megawatts that have shot the figure up to a colossal amount of $953million close to about $1 billion”.

READ MORE: Karpower Ghana Supreme Court rejects case against Karpower deal

After a meeting between members of the mines and energy and finance committees in parliament Alhaji Amadu Sorogo said the Minority and Majority members on the committees have arrived at consensus to allow for the approval of the 400 megawatts Early Power deal.

Parliament is expected to approve the deal on August 3 ,” the final report on the Early Power deal would be laid before the house following the consensus at the committee level”, he added.

He said the initial reaction from some minority members was understandable because the deal is complex and the agreement was bulky for a quick read.

 The committee insists the tariff charge in the deal pegged at 12.4 cents per kilowatt hour( per kWh) is the best considering the charge for other plants in the country.

“The Public Utility Regulatory Commission (PURC) says the deal is good”, Alhaji Amadu Sorogo stated.

The main sponsor of the project, Early Power Limited, has entered into an agreement with the Government of Ghana, together with the Electricity Company of Ghana (ECG), Sage Petroleum Limited, Endeavor and EPL Holdings, General Energy Investments, and Quantum Gas Terminals.

The project involves the development, ownership, operation and management of the 400MW Combined Cycle Plant to be fuelled by either Liquefied Petroleum Gas (LPG) or Natural Gas (NG) for a 25-year period by Early Power Limited in Tema, strategically close to the Tema Oil Refinery (TOR).

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Investment banks in Ghana Top 5 investment banks in Ghana and why you...bullet
2 Incompetence Otabil wasn't qualified to be Capital Bank Board Chairman...bullet
3 Breaking Otabil finally breaks silence on banking controversiesbullet
4 Salaries In 2018 Here are the dates public workers will be paid in...bullet
5 Education Top 5 private high schools in Ghana according to WAECbullet
6 Banking In Ghana Stranded customers of First Allied Savings &...bullet
7 Nana Appiah Mensah Menzgold CEO invited by EOCObullet
8 Collapsed Banks Here are the auditing firms for the 7...bullet
9 Nana Appiah Mensah Menzgold boss apologises to BoG after...bullet
10 Banks Collapse Gov’t to take action against those...bullet

Top Videos

1 Forbes 2018 Africa's billionaires rich listbullet
2 Money Alert Meet Africa's richest womanbullet
3 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
4 Former Capital Bank staff grills pork for survivalbullet
5 Plane Crash Starbow suspends operations following plane crashbullet
6 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
7 Support Finance minister buys Kantanka carbullet
8 New Phones Nokia MWC 2018 Event in 5 minutesbullet
9 Tech 6 reasons you should buy an iPhone SE instead of...bullet
10 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet

Business