Siemens says its partnership with Rotan Power to establish a combined cycle power plant with a capacity of a 660-megawatt thermal plant will save the country $ 200 million yearly.

Based on fuel price scenarios and efficiency gains of the F-class technology, this project will realize $80- $200 million cost savings per year once the plant is up and running compared to existing and future power plants currently in the pipeline to come on stream.

This is contrary to media reports quoting Andreas Pistauer, Executive Vice President for Siemens Power and Gas Africa as saying that Siemens is investing an amount of $200 million into Ghana’s energy sector.

Mr Pistauer speaking at the Ghana Industrial Customer workshop organised by Siemens said the country would save the money because the thermal project consumes low fuel and was very cost effective.

Siemens and Rotan Power have signed a memorandum of understanding (MoU) to develop and build a combined cycle power plant with a capacity of 660 megawatts (MW) at the Aboadze Power Enclave located in the western region.

The plant will be the most efficient and environmentally friendly thermal plants, setting new standards in sub-Saharan Africa.