Fidelity Bank has successfully led the syndication of a US$100 million facility to finance the completion of the 220MW Kpone Thermal Power Plant (KTPP) and the dual fuel conversion works on the 80MW Mines Reserve Plant at Tema.
According to the Managing Director of the Bank, Mr. Edward Effah, the Bank raised the funds with participation from two international financiers, Africa Finance Corporation (AFC) and ECOWAS Bank for Investment and Development (EBID).
[contextly_sidebar id=”dFWOvvEwRBckYdYhxhHo9v3wfiY1fFNc”]“Fidelity accepted the challenge to lead the syndication because as a Ghanaian Bank, we feel a sense of responsibility towards contributing to help improve the energy situation in our country”.
He further stated that, the Plant which is about 88% complete is currently undergoing Testing and is expected to be commissioned in February 2016. This will significantly augment power supply in the country.
In a related development, Fidelity Bank has financed an ultra-modern Gym facility for the Volta River Authority in response to a request to help furnish their new gym inAkosombo.
The equipment which cost GHS50,000.00 will assist staff of VRA stay healthy as they work to power the country. This is also expected to further deepen the strong working relationship between Fidelity Bank and VRA.
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Credit: Fidelity Bank