No Result
View All Result
Saturday, April 1, 2023
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    BoG cautions against use of Ghana Cedi for bouquets and hampers

    CUTS International pushes for passage of Competition bill

    DBG partners UGBS to deepen development finance

    GH¢5.5bn approved by Parliament not only for Blackshield customers – SEC

    BoG assures of enhanced educational campaigns to ensure proper handling of local currency

    Youth in Accountable Governance calls for passage of outstanding revenue bills

    GRA reiterates calls for businesses to embrace  E-VAT

    IES predicts drop in fuel prices from April 1

    Journalists trained on the Enrolment of cocoa farmers in pension scheme

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    CUTS International pushes for passage of Competition bill

    DBG partners UGBS to deepen development finance

    Bank of Ghana increases Monetary Policy rate to 29.5%

    Industry experts convene to discuss diversification strategies for pension funds

    It’s time to give women top posts in multilateral institutions – GCBL Chairman 

    Global Chamber of business leaders enters into partnership with IEFS

    Gold for Oil policy will save Ghana $4.8bn annually – Veep

    Energy Minister scheduled to speak on Ghana’s near-term opportunities at NAEPEC 2023

    Standard Chartered appoints Ebenezer Twum Asante as Chairman of Board of Directors

  • TECHNOLOGY

    Cyber Security Authority commences licensing and accreditation regime

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

    Third World Network Africa urges Africans to be strategic about AfCFTA

    5 important things to know about the African Continental Free Trade Area agreement

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    BoG cautions against use of Ghana Cedi for bouquets and hampers

    CUTS International pushes for passage of Competition bill

    DBG partners UGBS to deepen development finance

    GH¢5.5bn approved by Parliament not only for Blackshield customers – SEC

    BoG assures of enhanced educational campaigns to ensure proper handling of local currency

    Youth in Accountable Governance calls for passage of outstanding revenue bills

    GRA reiterates calls for businesses to embrace  E-VAT

    IES predicts drop in fuel prices from April 1

    Journalists trained on the Enrolment of cocoa farmers in pension scheme

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    CUTS International pushes for passage of Competition bill

    DBG partners UGBS to deepen development finance

    Bank of Ghana increases Monetary Policy rate to 29.5%

    Industry experts convene to discuss diversification strategies for pension funds

    It’s time to give women top posts in multilateral institutions – GCBL Chairman 

    Global Chamber of business leaders enters into partnership with IEFS

    Gold for Oil policy will save Ghana $4.8bn annually – Veep

    Energy Minister scheduled to speak on Ghana’s near-term opportunities at NAEPEC 2023

    Standard Chartered appoints Ebenezer Twum Asante as Chairman of Board of Directors

  • TECHNOLOGY

    Cyber Security Authority commences licensing and accreditation regime

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

    Third World Network Africa urges Africans to be strategic about AfCFTA

    5 important things to know about the African Continental Free Trade Area agreement

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

2nd powership will be delivered on schedule – Karpower

bycitibusinessnews
July 21, 2016
in Government, Local Economy, Oil And Gas, Top Stories
Share on FacebookShare on TwitterShare on Whatsapp

Powership producer, Karpowership Company Limited of Turkey, has rejected claims that an attempted coup in Turkey will affect the delivery of Ghana’s second 450 megawatts (MW) powership.

According to Karpower, work is progressing steadily on the ship and is expected to be delivered in October this year.

An attempted coup to oust President Recep Tayyip Erdogan last Friday, drew international attention to the country as concerns were raised over the impact of the act.

ADVERTISEMENT

But in a statement copied to Citi Business News, Karpowership Ghana Limited stated, “all international and local personnel working with the company are safe and all operations inside & outside of Turkey and construction works in our shipyards continue without any interruptions or delays.”

The statement further indicated that “the 450MW Powership expected in Ghana this year will be delivered as planned.”

Karpowership also thanked the government for its reaction to restore life to normal in Turkey.

Meanwhile Citi Business News has gathered that the government through its power distributor Electricity Company of Ghana (ECG) is engaging Karpower Ghana Limited to increase Karpower’s generation capacity to 675 MW.

This also forms part of strategies to find a lasting solution to the power crisis facing the country.

If the said negotiation is firmed up, the first power barge currently producing some 225 MW of power will remain in the country and continue to produce while the second power barge is added to production.

However, if an agreement is not reached on retaining 225MW power barge cur­rently in Tema, officials of Karpower would relocate it to their operation in another country.

Ghana’s ECG in June 2014 signed a Power Purchase Agreement (PPA) with Karpowership for two power barges.

Per the PPA, two powerships, each with 225 MW capacity, are to be provided to generate a total of 450MW and directly fed into Ghana’s electrical grid for 10 years.

The powership uses the economic and abundant Heavy Fuel Oil (HFO) to generate electricity, but has the ability to convert to natural gas.

According to Karpower Ghana, what the HFO does is to bring a new and cheaper fuel source which should translate into lower electric­ity tariffs for consumers.

The company has an arrangement with the Ghana National Petroleum Corporation (GNPC), which is sup­plying HFO, and the expectation is that when gas from the Sankofa proj­ect comes on-stream, the plant would then be powered with gas, in­stead of HFO.

Karpowership is a subsidiary of Karadeniz Holding, a sector pioneer in innovative energy projects for the last 20 years, playing an active role in medium to long-term investments in domestic and international markets.

–

By: Norvan Acquah – Hayford/citibusinessnews.com/Ghana

Related Posts

Business

CUTS International pushes for passage of Competition bill

byEmmanuel Oppong

Think Tank, Consumer Unity and Trust Society (CUTS) is urging government to quicken efforts to pass the Competition bill to...

Read more

GH¢5.5bn approved by Parliament not only for Blackshield customers – SEC

BoG assures of enhanced educational campaigns to ensure proper handling of local currency

Youth in Accountable Governance calls for passage of outstanding revenue bills

GRA reiterates calls for businesses to embrace  E-VAT

IES predicts drop in fuel prices from April 1

Journalists trained on the Enrolment of cocoa farmers in pension scheme

Next Post

Tanzania gets $7.6 bln loan from China's Exim Bank for railway

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.