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The extension of the Takoradi 2 gas-fired power plant will increase generation, while reducing the cost of electricity, limiting the impacts on the environment, and meeting Ghana’s growing energy needs.
Client presentation
Takoradi International Company Ltd is a joint venture 90%-owned by the international energy group TAQA and 10% by the Ghanaian public electricity company Volta River Autority (VRA). It is the owner of the 220 MW Takoradi 2 gas-fired power plant commissioned in September 2000, near the city of Aboadze, to the east of Takoradi, in the western region of Ghana.
Project description
Proparco’s loan will finance the extension of the Takoradi 2 power plant. The construction of a 110 MW combined cycle, comprising a condensing boiler and a steam turbine, will raise the power plant’s capacity to 330 MW (60% hydropower and 40% thermal energy). A seawater cooling system will also be built. The project cost will stand at USD 350m.
Project impact
This project will raise the generation capacity of the Takoradi 2 power plant without any additional consumption of hydrocarbons, which will reduce the cost of electricity and limit its impact on the environment. It will contribute to reducing growing electricity demand in Ghana.
Date of signature of the project
Financing tool
36 352 066 Euros
Amount of funding
Loan of USD 44 M
Financing details