Ghana: Cenpower announces financial close for $900m Kpone IPP

Cenpower Generation Company Limited has announced the financial close of $900m of project finance for the Kpone independent power plant (IPP) at Tema. The 340MW combined cycle gas turbine plant is due on stream in 2017 and will be Ghana’s largest IPP, accounting for some 10% of total installed capacity and 20% of available thermal generation capacity. The project finance comprises two components: a $650m debt tranche and a $250m equity tranche. The debt is being funded under export credit cover by a consortium of South African commercial banks and international development finance institutions (DFIs).