General
Electric and its consortium partners Endeavor Energy, Eranove and Sage
Petroleum, have signed an agreement with Excelerate Energy for the
reservation of a floating storage regasification units (FSRU) that will
provide storage and regasification of liquefied natural gas (LNG) for
the Ghana 1000 project, a 1300MW power plant that will be located in
Aboadze in the Western Region.
Excelerate is a leading provider of floating storage regasification units.
“Partnering
with Excelerate Energy illustrates the remarkable progress made by the
Ghana 1000 consortium in completing the project on time to deliver power
to the people of Ghana,” said Leslie Nelson, GE Ghana CEO.
"We're
partnering with the right stakeholders to offer innovative solutions
that will ultimately reduce the cost of power to the final consumer”, he
adds.
The first phase of the Ghana 1000 project is expected to be completed in late 2016 and will add 125MW to the grid.
This
will increase to 750MW by 2018 and 1300MW within five years. The
Ghanaian government is committed to creating an enabling environment and
regulatory frameworks that will help the project sponsors add power
quickly to the national grid.
“We're
very delighted to be part of this historic project, which represents
significant contributions to Ghana's energy sector,” said Excelerate
spokesperson Ernest Marshal.
“As
a co-lead on this project, Endeavor Energy is proud of the commitment
of all partners to ensure that we successfully deliver not only what
will be Sub-Saharan Africa's largest power park but also lower energy
costs while increasing the reliability of power supply in the country,”
said Endeavor CEO Sean Long. “Ghana 1000 promises to be the first of its
kind project in Africa.”
Ghana
1000's FSRU will have additional capacity to allow other power
generators to shift from light crude oil to LNG for power generation,
which could save Ghana up to $1 billion per year.Excelerate has
capabilities to regasify 500 million standard cubic feet of LNG, enough
gas to power approximately 3,000 MW.
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