Bridge Power CCGT Power Plant

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The project entails the construction and operation of a 400 MW power plant located in Tema. Early Power Limited (EPL Consortium) is developing the project in which General Electric Power (20%), Endeavour Energy (60%) and Sage (part of Quantum Power) (20%) are the sponsors which contribute with a total of $ 191 million. This is a new, greenfield project initiated on a BOO modality. As an Independent Power Producer, the project will benefit from a long term (20-year) PPA with Electricity Company of Ghana. At 12.5 cents per kilowatt hour (kWh), Bridge Power will deliver power at one of the lowest costs among the country’s IPPs, whose tariffs currently range between 13 to 20 cents per kilowatt hour. The power plant can be powered by either LPG, natural gas, or diesel. Project is being implemented in two stages, each of 200 MW. Total investment in the plant is approximately $953 million and will be funded via debt and equity. The $ 510 million debt for the project is split between 7 banks (Societe Generale. Standart Chartered, ABSA Bank, Hungarian Export-Import Bank, Emerging Africa Infrastructure Fund and CDC Group). Financial close took place on December 16, 2019. https://asokoinsight.com/news/construction-of-1bn-400mw-bridge-power-begins https://earlypowerltd.com/project/ https://www.ghanaweb.com/GhanaHomePage/business/Construction-of-US-1bn-400MW-bridge-power-begins-533333 https://ijglobal.com/data/transaction/45543/bridge-power-ccgt-power-plant-400mw