Ghana is set to receive a $70 million investment from Hungary for the first stage of its 400MW Bridge power project, located in the thermal power complex in Tema.
Confirming the investment, Hungary’s Ambassador to Ghana, András Szabó, said the funding would include three GE aero-derivative gas turbines (TM 2500), which will operate the first stage of the power plant.
He added that Hungary was committed to building a strong economic relationship with Ghana.
“Hungary’s contribution to this flagship project is one of our first big steps in revitalizing our political and economic relationship with Ghana. This is a clear demonstration to the government and people of Ghana that Hungary means business,” he said
The Bridge Power project is capable of being fueled by liquefied petroleum gas, natural gas and diesel, and is the biggest power plant in the country. It will supply power to over two million homes and create lasting job opportunities for Ghanaians.
On the project coming online, Steve Jernigan, Managing Director at Endeavor Energy – the largest shareholder on the project said: “We expect to deliver first power by the end of this year, and we are thrilled at the prospect of significantly helping to power Ghanas homes, schools, offices and industries.”
The project is sponsored by the Early Power Limited consortium which consists of Endeavor Energy, Sage and GE power.