Cenpower Generation Company Limited ('Cenpower or CGC') is a Special Purpose Vehicle created to develop the Cenpower Kpone Independent Power Plant ('KIPP') in the Tema industrial zone, close to Accra, Ghana’s capital.
Scheduled to come on stream in 2017, the KIPP will be among the largest private IPPs in the country, accounting for approximately 10% of Ghana’s total installed capacity and approximately 15% of its available thermal generation capacity.
As a Combined Cycle Gas Turbine ('CCGT') plant, it will be amongst Ghana’s most fuel-efficient thermal power stations and once in production, the power plant will become a critical base-load component in meeting Ghana’s growing electricity demand.
Cenpower presents a number of financing firsts:
- First licensed IPP in Ghana.
- First Greenfield project financed IPP in Ghana taking fuel supply risk.
- First project to provide a working capital facility through a fuel financing facility for the Electricity Company of Ghana (ECG)
- First thermal IPP project financed in Sub-Saharan Africa.
- Sumitomo Corporation (Japan) first thermal IPP investment in Africa.
Cenpower’s mission is to build an economically viable thermal power plant and supply electricity to the Electricity Company of Ghana, in a safe, reliable and environmentally sustainable manner.
Cenpower’s vision is to be recognised as the best Independent Power Producer in Africa and one of the best in the world in terms of safety, reliability, efficiency and environmental compliance.
Professionalism, Respect, Empowerment, Commitment, Integrity, Safety, Esprit De Corps (Teamwork) –PRECISE!
For more information about Cenpower, download Fast Facts here.