Takoradi International Company, TICO has secured a little over 300 million dollars from the capital market to boost its power generation.
This will enable the company add 110 megawatts of electrical energy to its current supply in the country.
The private wing of the Thermal complex in Aboadze currently operates the 220 megawatts control facility.
Managing Director of TICO, Mr.Osafo-Adjei told Joy Business that the addition of the 110 megawatts steam turbine and generator will enable the company move from its single cycle operation to a combined cycle facility.
That, he said, will increase the efficiency of power generation and also reduce the cost of generation from Aboadze.
TICO is a public private partnership with 90 percent holdings by the Abu Dhabi National Energy Company and 10 percent owned by VRA.
The financing is being put together by a club of DFI’s led by the FMO from Netherland and the IFC of the World Bank.