Ghana power generator TC’s Energy has appointed Fidelity Bank Ghana as its local bank and GLICO General as insurance company for its 100MW wave project near Ada.
Project partner Seabased said final-stage negotiations for financing of the wave array are due to conclude by the end of June.
The discussions involve European and African private investors, private financial institutions and public funding institutions, the Swedish wave developer added.
Seabased last month signed a contract with TC’s worth around $200m for the supply of a 100MW project consisting of the former’s S2.7 linear generator hardware.
The generators will be installed on the seabed at a depth of between 20 and 35 metres.
TC’s Energy will own and operate the plant and supply electricity from it to Electric Company of Ghana under a power purchase agreement.
Image: Seabased
Ghana banks $200m wave project
By EBS