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Symbion Power To Construct Power Plant   
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United States Company Symbion Power will finalize a power purchase agreement with government this week to kick-start the construction of 100 megawatts power project in July, this year.

The company has already signed a letter of intent to increase the capacity to 430 megawatts estimated to cost $700 million once the country’s gas infrastructure is completed.

The decision by Symbion to invest in Ghana was arrived at after intense negotiation with the Chief Executive of the Ghana Investment Promotion Center Mawuena Trebah.

CEO of Symbion Paul Hinks told Joy business report that the project, which will run during peak hours, will significantly address the current energy crisis facing Ghana.

“For a start we will use natural gas and jet fuel to operate the turbines until the gas infrastructure in Ghana is completed, so for now 100 megawatts will be available only during peak house in the morning and in the evening because jet fuel is expensive,” he added.

Last year, the Energy and Petroleum Minister Emmanuel Armah Kofi Buah and the CEO of Symbion Paul Hinks signed the letter of intent in the US to formalize the deal.

“Wherever we operate, we have always made it a point to employ over 90 percent of our staff locally with few expatriates joining and we intend to do same in Ghana.”

Mrs. Mawuena Trebah said the center exist to identify and bring to the country strategic to aid economic growth and create job for the country.

She was optimistic the tariff negotiation between Symbion, the Energy Ministry and Electricity Company of Ghana will be concluded this week to benefit all the parties.

According to Mrs. Trebah, while the center will work to ensure the commercial interest of the investor, steps will be taken to strike the needed balance in all negotiation.

“For us at the center, bringing in strategic investor to develop our energy infrastructure will always remain key to ensure sustainable economic development,” she emphasized.
Source: daily guide

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