UK Export Finance pumps $400m into Ghanaian gas project

UK Export Finance (UKEF) is supporting a GE Oil & Gas contract in Ghana with funding worth $400 million (£318m). The cash will help the company secure an $850 million (£676m) deal for the Offshore Cape Three Points project. GE Oil & Gas is providing subsea production systems for the project, which will include the […]

Gas project in Ghana gets $517m funding

Two members of the World Bank have committed $517 million (£428.4m) for a clean gas project in Ghana. The IFC and MIGA have pledged to support the offshore Sankofa Gas Project, which hopes to provide a reliable and affordable energy supply in the West African nation. The 1,000MW of capacity will help to displace heavy […]

Ghana to launch climate innovation hub

Ghana will receive a $17.2 million (£12.04m) grant to build a new climate innovation centre (CIC). The World Bank is funding the project which will support more than 100 local clean technology companies develop innovative solutions to tackle climate change. Ghana CIC aims to help more than 300,000 people increase resilience to climate effects in the next […]

Ghana to get 225MW wind farm

A wind farm with a capacity of 225MW is to be built in Ghana. The Ayitepa wind farm is expected to provide up to 5% of the country’s electricity demand. The total investment on the project is around $525 million (£336m). Irish company Mainstream Renewable Power has signed the Grid Connection Agreement for the project. Liam […]

Record $700m to ‘transform’ Ghana’s energy sector

A record investment of $700 million (£449m) has been approved for an energy project in Ghana. The World Bank believes the Sankofa Gas Project is “transformational” and will help address the nation’s serious energy shortages. A combination of water shortages for hydropower, erratic gas supplies from external sources and delays in the development of domestic […]

Ghana’s oil sector receives $16m fund

The oil sector in Ghana is getting a boost, thanks to a $16 million (£10.08m) fund. The International Finance Corporation – a member of the World Bank – and the OPEC Fund for International Development are providing $8 million (£5.04m) each. Ghanaian oil company Quantum Oil Terminal Limited is developing an offshore facility which will […]

Ghana’s power sector to benefit from $900m loan

Ghana’s energy sector will be one of the biggest benefactors from a huge IMF loan. The IMF (International Monetary Fund) board have approved a $918 million (£620m) loan to support Ghana’s growth and create jobs, including support for the oil and gas and electricity sectors. The Ghanaian government predicts a spurt in economic growth to […]

Irish energy firm buys $525m Ghana wind farm

A Dublin-based renewable energy company has bought a $525 million (£322m) wind farm project in Ghana. Mainstream Renewable Power said it struck a deal for the planned 225MW Ayitepa project with Switzerland’s NEK Umwelttechnik. It is expected to be the largest utility-scale wind farm in Ghana and produce around 10% of the nation’s electricity generation […]

Oil industry “tough for younger workers to crack”

  You can have all the qualifications in the world – but unless you know the right people you may be hard pressed to get a job in the oil and gas industry. That’s the fear of one graduate who believes many young people like himself “struggle” to break into the business despite a looming […]

Ghana bans old fridge imports

Ghana has banned imports of second hand fridges in an attempt to curb pollution. The West African nation reportedly wants to put a tighter leash on energy use and stop the release of Chlorofluorocarbons (CFCs) which were commonly used in old refrigerators. A majority of fridges made before an American and European ban on the […]