Recently Ghanaian President John Kufuor received an update from the Chairman of Balkan Energy Company LLC and Advisor to Dallas-based Prime Income Asset Management, Gene E. Phillips, on the progress of the Osagyefo Power Barge project.
The project is aimed at expanding Ghana’s hydroelectric power.
Balkan Energy is currently refurbishing a barge-mounted power station, which is expected to deliver 125 MW of power to Ghana. The barge project, which is located offshore the Ghanaian coast at Effasu, is the first phase of a three-year project that deliver 550 MW of electricity. The power station is scheduled to be up and running by the end of April.
"Ghana currently faces an extreme shortage of electricity due to rapid population growth and drought in northern Africa, which has greatly limited the country’s ability to produce hydroelectric power," said Phillips. "It is our hope to have the refurbished power station producing electricity by the end of this April, which will then provide much needed relief to the people of that nation."
According to Joseph Kofi Adda,