Summary

A 378 MW (ISO) dual-fuel combined-cycle plant in Aboadze, supplying ECG under a capacity-and-energy PPA signed 5 September 2016 running 20 years from commercial operation. The tariff combines a fixed capacity charge with a fuel- and CPI-indexed energy charge, a take-or-pay obligation, and Fair-Market-Value compensation to the developer on ECG default or political force-majeure termination. Change-in-law risk is borne by ECG.

Key terms

Offtaker

Electricity Company of Ghana (ECG)

Signing date

2016-09-05

Financial close

—

Commercial operation

—

Contract end

—

Contract duration

20 years

Contract status

Active

Tariff structure

Capacity + Energy

Capacity charge

—

Energy charge

—

Key risk features

Take-or-pay Currency indexation Change-in-law protection Termination compensation

Indexation formula

Capital-recovery-and-tax component fixed for the Term. Fixed O&M and Variable O&M components escalate annually by a US price index (labelled 'Producer Price Index' in the PPA but citing the US Consumer Price Index series). Fuel price component adjusts quarterly under the Fuel Supply Agreement(s) and PURC's Automatic Adjustment Formula. Tariff is invoiced in USD and paid in Ghana Cedis using a Buyer-funded Hedged Exchange Rate.