Electricity in Ghana: Bridge Power Project receives parliamentary approval
The Early Power consortium (comprised of leading African independent power producer Endeavor Energy, GE and Sage Petroleum) today announced that it has received parliamentary approval from the Government of Ghana and signed a 20-year power purchase agreement with the Electricity Corporation of Ghana (ECG) for the 400 megawatt (MW) Bridge Power project.
Expecting to reach financial close in December 2016, Early Power will develop the greenfield project located in the coastal city of Tema (26 kilometers east of Accra) in two phases – 194 MW in Phase 1 and 206 MW in Phase 2. However, it also expects Bridge Power to produce an initial 144 MW within six months to help Ghana meet its near-term power needs.
Built in the most economically active part of the country, the project is also expected to provide significant additional economic benefits beyond reliable power such as jobs, positive industrial growth and more.