TAQA, the global energy company based in Abu Dhabi, celebrated the ground-breaking ceremony of the Takoradi 2 natural gas-fired power plant expansion project in Ghana. Once complete, the plant will account for approximately 15 percent of Ghana’s generation capacity, providing power to more than a million people.
The ground-breaking ceremony was held in Takoradi in the presence of John Dramani Mahama, the President of Ghana; Emmanual Armah-Kofi Buah, Minister of Energy of Ghana; Khalid Al-Ghaith, Assistant Foreign Minister for Economic Affairs for the United Arab Emirates; and Nananom (local Chiefs).
Addressing guests during the ground-breaking ceremony held at Takoradi power plant, John Dramani Mahama, the President of Ghana said: “The Takoradi 2 expansion project reflects our energy for growth program aimed at increasing investments in the energy sector to build capacity for the future. The role of independent power producers has become vital and the partnership of TAQA and VRA (Volta River Authority) has demonstrated that Public-Private-Partnerships (PPP) work in Ghana. The plant’s excellent record of over 95% availability since 2000 is not only a demonstration of the successful implementation of the PPP framework but also the significant development of technology capacity of Ghana.”
The expansion project supports the Ghanaian Government’s efforts to develop the country’s electricity sector and promote the use of indigenous natural gas supplies. When completed, the expansion will increase the plant’s output from 220 megawatt (MW) by 50 per cent to approximately 340 MW without requiring extra fuel or producing additional emissions. In 2011, TAQA and VRA upgraded the plant from burning imported oil to primarily burn natural gas.
TAQA acquired a 90 percent share in the Takoradi 2 plant in 2007. The VRA, the main generator of electricity in Ghana, holds the remaining 10 percent. TAQA is operator of the facility.
TAQA obtained Ghanaian government approvals last year and completed the project financing arrangements in January 2013. The expansion, being built by Mitsui & Co (Japan) and KEPCO E&C (Korea), is scheduled for commissioning in the fourth quarter of 2014.
Takoradi 2 is TAQA’s second expansion project in Africa following the USD 1.6 billion expansion of the company’s Jorf Lasfar power plant in Morocco.