{"id":413654,"date":"2018-03-27T12:46:12","date_gmt":"2018-03-27T12:46:12","guid":{"rendered":"http:\/\/citifmonline.com\/?p=413654"},"modified":"2018-03-27T17:16:02","modified_gmt":"2018-03-27T17:16:02","slug":"govt-extends-karpower-deal-10-years","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2018\/03\/govt-extends-karpower-deal-10-years\/","title":{"rendered":"Gov’t extends Karpower deal by 10 years"},"content":{"rendered":"
Citi News<\/strong> can confirm that government has extended the controversial Karpower deal from ten to twenty years.<\/p>\n The deal with the independent power producer which was contracted by the then Mahama government to address the nation\u2019s power crisis at the time, was criticized by the New Patriotic Party (NPP), who were in opposition at the time.<\/p>\n [contextly_sidebar id=”pHldw0c9GZNyBqUYcxCOidF3glPf6Z3U”]They had argued that the arrangement was highly priced, and was not value for money.<\/p>\n The African Center for Energy Policy (ACEP), also recently called on government to renegotiate the deal.<\/p>\n However, Citi News<\/strong> sources at the Energy Ministry suggests that the deal has been renegotiated to ensure value for money, and extended to twenty years.<\/p>\n It is unclear what the new terms are, but the company recently announced it will move from using Heavy Fuel Oil [HFO] to natural gas when it moves the vessel from Tema to Takoradi.<\/p>\n The Karpowership from Turkey has the capacity to supply 470 megawatts (MW) of power to Ghana.<\/p>\n