Santerre Limited has entered into an agreement to finance and develop a 200 MW combined-cycle thermal power plant in Ghana as an independent power producer (IPP).
The project, which involves two phases of 100 MW, is being developed by a subsidiary of Santerre Limited, Santerre Electric Power Company (SEPCO). The firm has signed a memorandum of understanding (MoU) with the state-owned Electricity Company of Ghana (ECG).
The project will be located in the coastal town of Prampram, close to the industrial hub of Tema. The area is near the new 330 kV Ghana Grid Company transmission line, the West African Gas Pipeline and the Tema Oil Refinery. Construction works are expected to start in early 2015.
The total project investment is estimated at US$150 million.
Mr Charles Hardeman, Santerre President and CEO, stated:
This project will demonstrate the maturity of thermal power technology, which can be efficiently harnessed to tackle Ghana's recurrent electric power shortages. A Land Transfer Agreement has been signed for the Project; and the project Site is located close to a strategic industrial area less than 1km north of the sea.
Santerre's track record of developing major energy infrastructure projects will help to reduce Ghana's energy challenges. We are very grateful for the trust that has been placed in us by the Electricity Company of Ghana and the partners that support us in this important project.
The new power plant is being developed and sponsored by the Santerre-led consortium, which is formed by the following local firms: ACEC Investments Limited, the Ghanaian incorporated subsidiary of India-based ACEC, and Petro-Electric Company Ghana Limited, the Ghanaian firm which initiated and conceptualized the project.
Santerre Limited is a US-based international infrastructure development company with wide experience in privately financed infrastructure developments worldwide.