Name and Location
Ghana 1 000 project.

Client
The Ghana 1 000 Consortium is a private-sector, independent power producer initiative, without any direct financial contribution from the government of Ghana. It comprises General Electric (GE), Endeavor Energy (a portfolio company of leading energy and resources-focused global private equity firm Denham Capital) and Finagestion (a portfolio company of Emerging Capital Partners.

Government’s role is to create an enabling environment and regulatory framework to enable the project partners to fast-track the addition of critically needed power to the national grid. It will also facilitate a long-term agreement with the Electricity Company of Ghana and potentially other power offtakers buying power from the project.

Project Description
The Ghana 1 000 project will combine the importation of liquefied natural gas (LNG) with a dedicated floating storage and regasification unit to receive, store and regas, while associated infrastructure will transport natural gas onshore to advanced turbines to generate efficient, clean power.

An integral part of the project will be to import LNG to use as a dedicated fuel source for the project.

The Ghana 1 000 consortium partners are exploring options with several international suppliers.

They are also in discussions with a Ghanaian trading company to handle the management and logistics of importing the LNG.

The project will be completed in phases. The combined completion of all these phases will create one of the largest single power parks in sub-Saharan Africa, generating more than 1 100 MW of power.

Value
The first phase of the project will require more than $20-million of development capital, more than $200-million in equity from the project sponsors and more than $600-million in debt financing.

Duration
The first phase of the project is expected to begin delivering power by early 2017, initially producing 360 MW in simple-cycle mode.

When completed in early 2018, it will generate more than 540 MW in combined-cycle mode.

The second and final phase of the project is expected to be implemented before 2019.

Latest Developments
Global infrastructure giant GE, Endeavor Energy and Finagestion signed a joint development agreement to develop and implement the Ghana 1 000 project in May.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
GE, tel +1 203 373 2211.
Pierpont Communications Mike Gehrig on behalf of Denham Capital, tel +1 512 448 4950 or
email Mgehrig@piercom.com.
Endeavor Energy, tel +1 713 963 3690 or email contact.us@endeavor-energy.com.
ECP press office, tel +44 20 7935 4800 or email ecp@gongcommunications.com.
Finagestion, tel +225 20 31 07 31 or fax +225 20 31 16 04.