Symbion Power To Finalize 450 MW Power Plant In Ghana


Ghana electricity power crisis could soon witness a significant improvement as Symbion Power firms up plans to construct 450 megawatts power plant in Ghana.

The construction of the power plant is expected to take off next year.

The project estimated to cost 700 million dollars will help boost the government effort at meeting the energy needs of the country and create hundreds of jobs in the country.

Symbion Power and the government of Ghana last month signed a letter of intent committing the two parties to the deal.

Ghana is currently facing serious challenges in her power delivery due to short fall in gas supply from Nigeria and generally low investment in the power sector. Information available to Joy News indicates senior management personnel of Symbion are expected in the country this weekend to finalize agreement reached earlier to start work on the first phase of the project. The company will construct 100 megawatts in the first phase.

Deputy chief executive officer of Symbion Energy, William Olukoya told Joy News evidence of the deal will be witnessed early next year when the actual construction begins.

“We are currently finalizing the paper work and in some few months work will start on the project which we believe will significantly meet some of the Ghana’s energy needs,” he added.

The deal to have Symbion invest in Ghana was finally actualized last month after months of negotiation between the chief executive officer of the Ghana Investment Promotion Center Mawuena Trebarh and officials of Symbion.

Last month, 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.

William Olukoya who doubles as the Chief Financial Officer of Symbion said as part of the deal, Symbion will also offer training for Ghanaians abroad who will in turn train local expertise who will be employed.

“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.”

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