Unveiling Of $70 Million-Worth Of Power Generation Investment From Hungary
The Ambassador of Hungary to Ghana, His Excellency András Szabó, unveiled a $70 million worth of power generation investment from Hungary for the Bridge Power Project. According to Mr Szabó, the project will be the biggest power plant since the Bui hydropower plant at Tema. The investment will include three out of five GE aero derivative gas turbines (TM 2500) that will be used to operate this first stage of the power plant, and highlights Hungary’s commitment to building a strong economic relationship with Ghana.
The Project will enhance Ghana’s energy security as the plant is capable of being fueled by liquefied petroleum gas (LPG), natural gas or diesel and will be responsible for importing its own fuel.
The arrival of the TM2500 gas turbines for Bridge Power marks a milestone in the budding trade and investment relationship between Ghana and Hungary.
Bridge Power is sponsored by the Early Power Limited (EPL) consortium, comprising Endeavor Energy, a leading independent power development and generation company focused on Africa; Sage, Ghana’s indigenous trading firm; and General Electric Power (GE), the world energy leader. Stage 1 is under construction by Metka, a leading Engineering, Procurement and Construction (EPC) company.
An additional investment of multi-million dollars’ worth of equipment will come from Hungary as part of Stage 2 of the Project. Hungary has further supported the Project with financing through the Hungarian Export Import Bank (HEXIM) and is committed to deepening its economic cooperation with Ghana especially in areas of infrastructure, energy, water management, information technology, project waste management, construction, agriculture and food processing – all contributing to job creation.