A 900 million dollar agreement has been signed for the construction of the Kpone Independent Power Plant (KIPP).
The project being undertaken by Cenpower Generation Company, when completed in 2017, will be the largest private IPP in the country.
It will account for approximately 10% of Ghana’s total installed capacity and approximately 20% of its available thermal generation capacity.
Citi Business news also gathers it will be one of Ghana’s most fuel-efficient thermal power stations because it is a Combined Cycle Gas Turbine plant.
The project finance comprises two components, a 650 million dollar debt tranche and a 250 million dollar equity tranche.
The debt is being funded by a consortium of South African commercial banks and international Development Finance Institutions (DFIs).
By: Anim Kwaku Boadu/citifmonline.com/Ghana