CADFund pledges USD 1.5 billion loan for 2×350MW supercritical coal-fired power generating plant and coal handling terminal in Ekumfi District

In 2016, China-Africa Development Fund (CADFund) agreed in principle to provide a USD 1.5 billion long-term loan facility for the construction of a 2×350MW supercritical coal-fired power generating plant and coal handling terminal in Ghana. It is unclear whether CADFund ever formally committed these funds or signed any additional financial documents for this project. The project site is located within of Ekumfi Aboano Area and is proposed to cover an estimated area of 139 hectares. The project would influence areas including Ekumfi Aboano community, Ekumfi Kontankure Settlement, Ekumfi Estibeedu community, and Ekumfi Otuam community within the Ekumfi District Assembly area. This project is to be undertaken by the Volta River Authority (VRA) and Shenzhen Energy Group Company Limited of China (SEC). Shandong Electric Power Engineering Consulting Institute and CCCC-FHDI Engineering Company have completed feasibility studies for the project. GRIDCo has also completed the preliminary grid impact study for the project. This project was originally expected to commence in April 2017. However, construction has not yet begun and it is unclear if CADFund’s loan pledge ever materialized into an official loan commitment.

Number of official sources

3

Number of total sources

8