Group Five Wins EPC Contract for Gas-Fired Ghana Power Project

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Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--Group Five (JSE:GRF) (Johannesburg, South Africa) has won a $375 million engineering, procurement and construction (EPC) contract for a 350-megawatt (MW) gas-fired, combined-cycle power plant at Kpone, in Tema's industrial zone in Ghana.

View Project Report - 83900041

The contract award was made by the project director, Cenpower Generation (Accra Ghana). InfraCo (London, England) is the project manager. Final closure on the deal is expected in the next few weeks, after which Group Five will proceed with the project, which is scheduled for completion in three years. Work on the project site has started.

Tema is Ghana's major residential and industrial city, and is the largest seaport in the country. It is about 24 kilometers from the international airport in the capital Accra.

General Electric (NYSE:GE) (Fairfield, Connecticut) and Siemens AG (NYSE:SI) (Munich, Germany) will supply the power generation equipment, including two 105-MW GE MS9001E gas turbine generator sets with heat recovery steam generation (HRSG) and a 130-MW steam turbine generator set, with the balance of the plant to supply power to the local grid. The power equipment represents about 50% of the contract.

Rand Merchant Bank (Johannesburg), a division of South Africa's third-largest bank, is the coordinating lead arranger for the commercial debt package and will be supported by the Export Credit Insurance Corporation of South Africa (Johannesburg).

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