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2nd powership will be delivered on schedule – Karpower

  • SOURCE: | Editor
  • karpower

    Powership producer, Karpowership Company Limited of Turkey, has rejected claims that an attempted coup in Turkey will affect the delivery of Ghana’s second 450 megawatts (MW) powership.

    According to Karpower, work is progressing steadily on the ship and is expected to be delivered in October this year.

    An attempted coup to oust President Recep Tayyip Erdogan last Friday, drew international attention to the country as concerns were raised over the impact of the act.

    But in a statement copied to Citi Business News, Karpowership Ghana Limited stated, “all international and local personnel working with the company are safe and all operations inside & outside of Turkey and construction works in our shipyards continue without any interruptions or delays.”

    The statement further indicated that “the 450MW Powership expected in Ghana this year will be delivered as planned.”

    Karpowership also thanked the government for its reaction to restore life to normal in Turkey.

    Meanwhile Citi Business News has gathered that the government through its power distributor Electricity Company of Ghana (ECG) is engaging Karpower Ghana Limited to increase Karpower’s generation capacity to 675 MW.

    This also forms part of strategies to find a lasting solution to the power crisis facing the country.

    If the said negotiation is firmed up, the first power barge currently producing some 225 MW of power will remain in the country and continue to produce while the second power barge is added to production.

    However, if an agreement is not reached on retaining 225MW power barge cur­rently in Tema, officials of Karpower would relocate it to their operation in another country.

    Ghana’s ECG in June 2014 signed a Power Purchase Agreement (PPA) with Karpowership for two power barges.

    Per the PPA, two powerships, each with 225 MW capacity, are to be provided to generate a total of 450MW and directly fed into Ghana’s electrical grid for 10 years.

    The powership uses the economic and abundant Heavy Fuel Oil (HFO) to generate electricity, but has the ability to convert to natural gas.

    According to Karpower Ghana, what the HFO does is to bring a new and cheaper fuel source which should translate into lower electric­ity tariffs for consumers.

    The company has an arrangement with the Ghana National Petroleum Corporation (GNPC), which is sup­plying HFO, and the expectation is that when gas from the Sankofa proj­ect comes on-stream, the plant would then be powered with gas, in­stead of HFO.

    Karpowership is a subsidiary of Karadeniz Holding, a sector pioneer in innovative energy projects for the last 20 years, playing an active role in medium to long-term investments in domestic and international markets.

    By: Norvan Acquah – Hayford/citibusinessnews.com/Ghana

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