Sunon-Asogli Gas Fired Power Plant

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The Suson-Asogli Power plant project is a private sector gas-steam combine cycle power plant project. It came to fruition as an Ghanaian businessman and paramount chief of Asogli state, Togbe Afede XIV, visited China and succeeded in bringing on board Shenzen Energy Group Limited and the China-African Development Fund (CADFUND). They founded the Chinese power producer Suson-Asogli Power (Ghana) Limited, which is jointly owned by Shenzen Energy Corporation and CADFUND, whereby the former has 60%, the latter 40% of the shares. The project consists of a first phase (200MW), for which financial closure was reached in 2007; a second phase (another 360MW), being implemented in 2011 although the sponsor did only commit the money; and a last phase, expected in 2012, for another 440MW that was to bring the total capacity of the plant up to 1000MW. The first phase cost $200 million, the second phase $360 million, and the financing for the third and last round was still being negotiated in early 2012. The construction of the first phase was comleted in 2009. The funding of the first phase was provided by the sponsors. The production of the electricity was directly fed into the Ghana Grid Company Limited (GRIDCo) network, as well as Electricity Company of Ghana (ECG). The gas supplied to the plant was part of the Volta River Authority's consignment for which Asogli had signed a contractual agreement with the West African Gas Pipeline Company (WAPCO). The plant wanted to receive direct supplies from the WAPCO pipeline, but this was still being negotiated. * Phase III (560MW > 1000MW) expected in 2012. * Sponsor update needed ("Others": Shenzhen Energy and CADfund)

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