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    Reference: 20180417
    Release date: 19 June 2019

    Promoter – Financial Intermediary

    VOLTA RIVER AUTHORITY

    Location

    Description

    The project consists of the rehabilitation and upgrade of the electromechanical equipment and systems of the 160 megawatt (MW) hydropower plant on the Volta river in Ghana.

    Objectives

    The project will extend the life of existing assets by at least 25 years. It will provide cheap and affordable renewable electricity to the fast growing Ghanaian market.

    Sector(s)

    • Energy - Electricity, gas, steam and air conditioning supply

    Proposed EIB finance (Approximate amount)

    EUR 12 million

    Total cost (Approximate amount)

    EUR 60 million

    Environmental aspects

    If the project was located within the EU, most of its components would fall under Annex II of the Environmental Impact Assessment (EIA) Directive (2014/52/EU), requiring the competent authorities to determine whether an EIA is required. An Environmental and Social Impact Assessment (ESIA) for the project was not required due to the nature of the rehabilitation works that are limited to the replacement of electro mechanical equipment in an existing power plant.

    Procurement

    The project qualifies under public procurement section of the EIB Guide to Procurement 2018. The project is implemented based on a turnkey contract awarded to a reputable international company in October 2013 following a competitive tender. In addition, the promoter hired an international owner's engineer. The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.

    Status

    Signed - 30/12/2019

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Ghana Energy