August 30, 2008

Shenzhen Energy to build power plant in Ghana

Interfax China reported that Shenzhen listed Shenzhen Energy Investment will build a combined steam and gas turbine cycle power plant in Ghana.

According to China Business News, the project will require total investment of CNY 1 billion and will be funded by the China-Africa Development Fund an organization supported by the Chinese government that promotes economic cooperation between China and Africa.

The report said Shenzhen Energy Investment will begin construction on the 560 megawatt plant in the first half of this year, but the company has not yet revealed when the plant will be completed. It said the company signed an preliminary cooperative agreement with the China-Africa Development Fund in September last year, under which it agreed to construct a combined steam and gas turbine cycle power plant in Ghana with investment from the fund.

This project is the first of four planned by the fund to strengthen Sino-African economic ties. No further information is available about the other three projects.