TAQA’s presence in Ghana is centred around a 330 MW combined-cycle power plant located at Takoradi, 220km west of Accra.
TAQA has a 90 per cent interest in the Takoradi T2 plant, which generates electricity from a variety of fuels including tri-fuel compatible natural gas, fuel oil or distillate-light crude. The remaining 10 per cent is owned by the Volta River Authority (VRA), a state-owned entity. All power produced from the Takoradi T2 facility is sold under a 25-year power purchase agreement with the VRA.
TAQA received Ghanaian parliamentary approval in July 2012 to convert the facility from a simple-cycle to a combined-cycle generation facility, which increased the net generating capacity from 220 MW to approximately 330 MW without an increase in fuel consumption. The company, along with the Volta River Authority, completed the expansion in October 2015 helping to meet 15 per cent of Ghana’s generation capacity.
The expansion project supports the Ghanaian government’s efforts to develop the country’s electricity sector and promote the use of indigenous natural gas supplies.
Beyond power operations, TAQA implements a corporate social responsibility programme, which integrates the core power generation business with support for community development in the areas of education, health and culture. This is implemented with the view to harnessing the human and other resource potentials of the people living around the project area to improve their living standards.