Aboadze, Ghana – 12 December 2016 – Amandi Energy Limited (Amandi Energy) today announced that it has reached financial close and begun construction of the $550 million Amandi Energy Power Plant, a 192 megawatt (MW) combined cycle dual-fuel power project in Aboadze, Ghana.
The Amandi Project will be crucial in helping to meet Ghana’s growing power needs. Once constructed, the plant will be the most efficient power plant in the country and will produce more than 1,600 gigawatt hours per year. This will energise up to one million Ghanaian households. Amandi Energy will sell power to the Electricity Company of Ghana (ECG) under a 25-year Power Purchase Agreement. It will be initially fuelled by light crude oil, with future plans to switch to indigenous gas acquired from Ghana’s offshore Sankofa natural gas field.
The Amandi Project is expected to be fully constructed within 27 months and is scheduled to operate in April 2019.
The plant’s construction will create 400 jobs, most of which will be filled by Ghanaians, with a further 100 full-time jobs emerging from the plant’s operations.
The project is a partnership between Endeavor Energy, a leading Africa-focused independent power company and Aldwych International, which is a subsidiary of Harith General Partners. Harith has a controlling interest in Aldwych Holdings Limited through its $630m Pan-African Infrastructure Development Fund (PAIDF) 1. Harith has partnered on this project through its $435m PAIDF 2.