Amandi Gas-to-Power Project
Amandi is a 200MW combined cycle, dual-fuel power project in Aboadze, Ghana. The only large scale, base-load independent power generation project in sub-Saharan Africa to achieve financial close in 2016, Amandi is scheduled to come online Q2 2019. Plant construction has created 400 jobs, most of which filled by Ghanaians, and plant operations will employ up to 40 people full time once construction is complete.
Crucial in helping meet Ghana’s growing power needs, once constructed, the plant will be one of the most efficient power plants in the country. Amandi will be capable of producing more than 1,600 gigawatt hours per year, enough to energize up to one million Ghanaian homes. Power generated will be sold to the Electricity Company of Ghana (ECG) under a 25-year Power Purchase Agreement. Initially fueled by light crude oil, Amandi is expected to switch to indigenous gas from Ghana’s offshore Sankofa natural gas field once it becomes available.
The $552 million investment required for this project is comprised of $134 million in equity from the shareholders and $418 million in debt financing provided by a group of lenders, including the Overseas Private Investment Corporation (OPIC), CDC Group plc, Nedbank Limited and Rand Merchant Bank.
Endeavor is the largest shareholder of the Amandi Project as well as the two companies that provide construction management and oversight of the EPC contractor, and will provide O&M and commercial management services.
Amandi represents a significant achievement for the U.S. Power Africa initiative, and is designed to support Ghana’s growing natural gas industry. As a Power Africa partner, Endeavor seeks to make a difference with its projects throughout the continent by working with national governments and local stakeholders to build the capacity needed to help meet critical demands for new power supplies.
The Amandi Project was named 2016 African Power Deal of the Year by both Project Finance International and IJ Global.
For more information about Amandi Energy, please visit aelgh.com.