In 2015, Aksa Energy signed a power purchase agreement with the government of the Republic of Ghana for the sale of electricity for a duration of 6.5 years with a tariff based on USD dollars. As per the agreement, Samsun Natural Gas Combined Cycle Power Plant was converted into a fuel oil power plant and some of its equipment was transferred to Ghana. The construction of the power plant was completed in 9.5 months while saving on investment expenses by utilizing existing equipment.
Ghana HFO Power Plant started operations in March 2017, with an installed capacity of 192.5 MW. The power plant reached an installed capacity of 280 MW in August. In 2018, the power plant reached a total capacity of 370 MW with the commissioning of additional engines. Therefore, according to the agreement, the capacity within the scope of guaranteed purchase has increased from 223.5 MW to 332 MW and from this date on, the capacity charges have started to be collected over 332 MW.
Activities continue for the completion of the project for converting the engines in the power plant to dual fuel (HFO/ natural gas), and this project is planned to be completed in 2021.