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Second Karpowership Arrives In September

karpowerGhana’s second Karpowership could arrive in the country by September, this year, Zeynep Harezi, Executive Director for Business Development at Karpower, has said.

Ms Harezi, speaking to journalists recently, said the second Karpower, which is 70 percent complete, would contribute 225 megawatts to the national grid.

The second Karpowership was expected to arrive in Ghana by January this year.

The first Karpowership, Aysegul Sultan, which arrived in the country last year, started producing power on December 17, 2015.

It is now produces 225 megawatts power. The two ships are expected to contribute 450 megawatts power to the national grid.

Ms Harezi said: “As per our contract, the second powership is to be delivered 365 days from the financial guarantee. So the financial guarantee was put in place during the second half of 2015.”

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The company requested $50 million guarantee to bring each powership to Ghana.

The Ghana National Petroleum Corporation (GNPC) has taken responsibility for the payment of the guarantees since it would be the main supplier of fuel to the barges. Also, GNPC needs to find use for the Sankofa gas else Ghana would pay penalties to ENI, which is expected to produce the gas.

The contract says the powerships should be run on HFO for the first five years before they can be moved to gas, but Harezi said the company will negotiate if gas becomes available before the deadline to save Ghana about $120 million annually.

According to Alex Mould, CEO of GNPC, one of the conditions of ENI for the Sankofa project to continue was that GNPC would ensure it takes the gas.

“So that is why GNPC entered into this. We have to make sure we have the capacity to take the gas. If not, then we start paying penalties to ENI for not being able to take the gas. It is a take or pay contract. So far as the gas is available, we are supposed to take it. If there is nowhere for us to dispose of the gas, it becomes a financial loss to the country,” he explained.

 

-Daily Guide

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