Nuclear Power Ghana (NPG) has announced a major advancement in its nuclear power program.
The organization has established a comprehensive framework agreement with its two selected vendor nations, the United States and China.
This framework serves as the foundation for future agreements essential to the finalization and implementation of Ghana’s first nuclear power plants.
Dr. Stephen Yamoah, Executive Director of NPG, stated that the implementation agreements with both vendors are expected to take around two years to complete. He emphasized that this period will allow for a thorough review of the agreements and the identification of funding sources.
“Framework that was signed is not a contract. It is an understanding of the two parties on the collaboration to proceed to discuss funding arrangements and funding models for the nuclear power plant project. For the Chinese project, we’re looking at build, own, or free transfer. So the framework sets that arrangement. So we go to the table, and we’re discussing the implementation of the build on concrete transfer model.”
“The SMR project with US technology and US Project Development is looking at public-private partnerships for the power plant and for additional, new industries as offtakers. So the discussion is about how we bring onboard partners and which industries can be brought onboard as off tickets.”
Elaborating on the SMR projects, Dr. Yamoah stated that NPG will enter into an agreement with Regnum Technology to establish a special purpose vehicle, a common practice for managing and financing large infrastructure projects.
“We also have to sign another level of agreement to set up a special purpose vehicle. So it is this special purpose vehicle that is going to run the nuclear power project and the industry and to own the assets of the company,”
