Hungary’s unveils USD 70 million Bridge Power Project in Ghana
This investment includes three out of five GE aero-derivative gas turbines (TM 2500) that will be used to operate this first stage of the power plant and highlights Hungary’s commitment to building a strong economic relationship with Ghana.
Bridge Power, located in the thermal power complex in Tema, will be the biggest power plant in Ghana since the Bui hydropower plant and will provide a significant portion of the country’s current reliable generating capacity with more than 400 megawatts of efficient, combined cycle power.
The project will enhance Ghana’s energy security as the plant is capable of being fueled by liquified petroleum gas (LPG), natural gas or diesel and will be responsible for importing its own fuel.
Deputy Minister of Trade and Industry, Mr Robert Ahomka-Lindsay said, “The “Ghana Beyond Aid” agenda set by the President of the Republic, Nana Addo Dankwa Akufo-Addo, can only be achieved by diversifying the economy towards manufacturing and agro-processing that will create reliable and stable jobs for our unemployed youth for resilient growth. These ambitious dreams of ours can only be achieved with adequate and reliable power.”
The arrival of the TM2500 gas turbines for Bridge Power marks a milestone in the budding trade and investment relationship between Ghana and Hungary. An additional investment of multi-million dollars’ worth of equipment will come from Hungary as part of Stage 2 of the Project.
Hungary has further supported the Project with financing through the Hungarian Export-Import Bank (HEXIM) and is committed to deepening its economic cooperation with Ghana especially in areas of infrastructure, energy, water management, information technology, project waste management, construction, agriculture and food processing – all contributing to job creation.
Ambassador András Szabó said that “Hungary’s contribution to this flagship project is one of our first big steps in revitalizing our political and economic relationship with Ghana. This is a clear demonstration to the Government and people of Ghana that Hungary means business.” ■