Cenpower Generation Company
Cenpower Generation Company Limited owns and operates the 350MW Kpone Independent Power Plant in Ghana's Tema industrial zone, supplying baseload electricity to Electricity Company of Ghana under a 20-year take-or-pay Power Purchase Agreement using multi-fuel Combined Cycle Gas Turbine technology.
- Company typePrivate
- Founded2003
- HeadquartersAccra, Ghana
- Headcount51–100
- GTM type—
- Offering—
What Cenpower Generation Company does
Cenpower Generation Company Limited is a Ghanaian Special Purpose Vehicle incorporated in 2003 to develop, own, and operate the Kpone Independent Power Plant (KIPP), a 350MW Combined Cycle Gas Turbine facility located in the Tema industrial zone approximately 24km east of Accra. The plant achieved commercial operations on June 10, 2019, and currently contributes approximately 10% of Ghana's total installed electricity capacity and 15% of available thermal generation capacity, producing roughly 2,700 GWh annually — equivalent to the demand of about one million households. The facility is built on GE Frame 9E gas turbines with NEM Heat Recovery Steam Generators and a Siemens SGT800 steam turbine, and is designed for multi-fuel operation (natural gas, light crude oil, and distillate) with once-through seawater cooling and on-site reverse osmosis water treatment. A dedicated 161kV collector substation with over 1,000MW of evacuation capacity has been commissioned and handed over to Ghana Grid Company (GRIDCo).
Cenpower's commercial model is a B2B/B2G infrastructure concession: it sells 325MW of contractual capacity to Electricity Company of Ghana (ECG) under a 20-year take-or-pay Power Purchase Agreement, with tariffs regulated quarterly by the Public Utilities Regulatory Commission. Revenue is split between a capacity payment (for availability) and an energy payment (for electricity dispatched), with power evacuated through the national grid managed by GRIDCo. A Gas Supply Agreement with Ghana National Petroleum Corporation (GNPC), signed in October 2020, shifted primary fuel to natural gas and is expected to deliver approximately US$3.0 billion in savings over the remaining PPA term. The plant is strategically supported by an institutional equity consortium led by Africa Finance Corporation, Sumitomo Corporation (strategic technical partner), AIIM (via Mercury Power), and FMO, and was financed originally with a US$900 million project finance facility.
The business is concentrated by design on a single regulated off-taker (ECG) in a single geography (Ghana), with diversification potential into the deregulated mining segment (~11% of national demand) and West African Power Pool cross-border export markets. The KIPP project was recognized in 2014–2015 with multiple international awards, including the Thomson Reuters PFI 'Africa's Power Deal of the Year' and the African Banker 'Infrastructure Deal of the Year'. Post-construction, Cenpower operates with a lean permanent workforce of approximately 82 staff, reflecting the capital-intensive, fixed-asset nature of the business.
Cenpower Generation Company firmographics
Firmographics- Name
- Cenpower Generation Company
- Legal name
- Cenpower Generation Company Limited
- Website
- https://cenpowergen.com
- Company type
- Private
- Founded year
- 2003
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Cenpower Generation Company Limited owns and operates the 350MW Kpone Independent Power Plant in Ghana's Tema industrial zone, supplying baseload electricity to Electricity Company of Ghana under a 20-year take-or-pay Power Purchase Agreement using multi-fuel Combined Cycle Gas Turbine technology.
- Ownership category
- akta.pro rank
Cenpower Generation Company industry classification
Industry- NAICS
- Electric Power Generation (22111), Fossil Fuel Electric Power Generation (221112)
- SIC
- Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield) (EUACABAI)
Keywords
Where Cenpower Generation Company is headquartered
LocationHeadquarters
- HQ city
- Accra
- HQ country
- Ghana
- HQ region
- Africa
Offices2 records
Markets served
Cenpower Generation Company business model
Business modelRevenue model
- Power Purchase Agreement (PPA) Revenue: Long-term 20-year Power Purchase Agreement with Electricity Company of Ghana (ECG) for 325MW of contractual capacity. Revenue consists of capacity payments (for availability) and energy payments (for electricity generated). This is a take-or-pay arrangement where ECG pays for contracted capacity regardless of dispatch levels.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Government utility bulk power supply under regulated tariff framework |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
Cenpower Generation Company product offering
Product offeringCore offering
Cenpower Generation Company Limited develops, owns, and operates the Kpone Independent Power Plant (KIPP), a 350MW Combined Cycle Gas Turbine (CCGT) facility located in the Tema industrial zone, Ghana. The plant generates electricity under a 20-year Power Purchase Agreement with the Electricity Company of Ghana (ECG) for 325MW of contractual capacity, supplying approximately 10% of Ghana's total installed electricity capacity and producing about 2,700 GWh per year.
Product overview
Cenpower Generation Company Limited operates as a Special Purpose Vehicle developing and managing the Kpone Independent Power Plant (KIPP), a 350MW Combined Cycle Gas Turbine (CCGT) power plant in Tema, Ghana. KIPP is among the largest private Independent Power Producers (IPPs) in Ghana, providing approximately 10% of the country's total installed capacity and 15% of its available thermal generation capacity. The plant commenced commercial operations on June 10, 2019, and is designed for multi-fuel operation including natural gas, light crude oil, and distillate, with natural gas as the primary fuel. The power generated is supplied to the Electricity Company of Ghana (ECG) through the national grid.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- 10% of Ghana's total installed capacity and approximately 15% of available thermal generation capacity
- +4 more outcomes
Companies that use Cenpower Generation Company
Customer profileNamed customers1 record
Segments4 records
Cenpower Generation Company technology and API
TechnologyAPI detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Cenpower Generation Company partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and major.
- Electricity Company of Ghana (ECG)coreECG is Cenpower's major electricity off-taker under 20-year Power Purchase Agreement for 325MW of contractual capacity. ECG is wholly owned by Ghana Government and distributes electricity in southern Ghana regions (Ashanti, Central, Eastern, Greater Accra, Volta and Western).
- Ghana Grid Company (GRIDCo)coreConnection agreement governing establishment and operation of KIPP connection to National Interconnection Transmission System (NITS). GRIDCo administers the National Electricity Grid Code and is responsible for grid operations.
- Adinkra (Vitol/Chase)majorJoint venture between Vitol (world's largest independent energy trader) and Chase Petroleum Ghana provides fuel supply and storage agreements for Light Crude Oil and distillate supply to KIPP.
- Ghana National Petroleum Corporation (GNPC)majorGNPC entered into Gas Supply Agreement (GSA) with Cenpower for natural gas supply, enabling fuel switch from light crude oil to natural gas with estimated savings of $3.0 billion over remaining PPA term.
Scale indicators6 records
Recent moves7 records
Expansion highlights5 records
Cenpower Generation Company competitors and assessment
Company assessmentDirect peers
- Sunon Asogli Power: Chinese-financed emergency/independent power plant operating in Ghana, supplying electricity into the national grid. Direct competitor to Cenpower in the Ghanaian IPP market with overlapping offtaker relationships and similar thermal generation profile.
- Karpowership Ghana: Subsidiary of Turkish Karpowership operating floating powerships providing electricity to Ghana under government PPAs. Direct peer in the Ghanaian IPP generation market with comparable B2G sales motion and long-term PPA structure.
Broad incumbents
- Volta River Authority (VRA): Ghana's state-owned generation utility operating hydro and thermal plants including the Akosombo hydroelectric facility. Largest incumbent generator in Ghana and the dominant counterparty in the country's power generation mix.
- Globeleq: Pan-African IPP investor and operator backed by British International Investment and Norfund, with a portfolio of thermal and renewable generation assets across Africa. Comparable business model of owning and operating power assets in African markets.
- Aggreko: Global provider of temporary and modular power solutions, with significant operations across Africa serving utility and industrial customers. Comparable business of selling contracted generation capacity into African power markets.
Regional players
- Azito Energie: Operator of a ~430MW combined-cycle gas turbine IPP in Côte d'Ivoire, supplying power to the national grid under a long-term PPA. Most directly comparable West African CCGT IPP peer with similar technology profile and offtaker structure.
- Eranove: West African utility and IPP operator with concessions and power generation assets in Côte d'Ivoire, Senegal, and other regional markets. Comparable integrated utility/IPP business model serving West African power markets.
- CIPREL (Côte d'Ivoire): Independent power producer operating multiple CCGT and conventional thermal plants in Côte d'Ivoire under long-term PPAs with the state utility. Comparable gas-fired IPP serving a neighboring West African power market.
Others
- Anergi Assets Company: Holding company for power generation assets across Africa, formerly co-owned by AFC (Cenpower's lead developer). Directly comparable as a portfolio vehicle for African thermal IPP assets with shared investor base.
- Wärtsilä Energy: Finland-based manufacturer of engine and power plant equipment that also develops and operates IPP projects in Africa. Adjacent player providing technology and EPC capability relevant to Cenpower's gas turbine and multi-fuel plant design.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Cenpower Generation Company social profiles
Digital presenceCenpower Generation Company financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cenpower Generation Company leadership team
Management profileNumber of profiles
Cenpower Generation Company funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cenpower Generation Company M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cenpower Generation Company
What does Cenpower Generation Company do?
Cenpower Generation Company Limited develops, owns, and operates the Kpone Independent Power Plant (KIPP), a 350MW Combined Cycle Gas Turbine (CCGT) facility located in the Tema industrial zone, Ghana. The plant generates electricity under a 20-year Power Purchase Agreement with the Electricity Company of Ghana (ECG) for 325MW of contractual capacity, supplying approximately 10% of Ghana's total installed electricity capacity and producing about 2,700 GWh per year.
Is Cenpower Generation Company a public or private company?
Cenpower Generation Company is a private company. It is currently operating.
When was Cenpower Generation Company founded?
Cenpower Generation Company was founded in 2003. It employs 51 to 100 people.
Where is Cenpower Generation Company based?
Cenpower Generation Company is headquartered in Accra, Ghana, in the Africa region.
How does Cenpower Generation Company make money?
One revenue line is on record: power Purchase Agreement (PPA) Revenue.
Who are Cenpower Generation Company's main competitors?
Direct peers on record are Sunon Asogli Power and Karpowership Ghana. Broad incumbents are Volta River Authority (VRA), Globeleq and Aggreko. Regional players are Azito Energie, Eranove and CIPREL (Côte d'Ivoire). Others are Anergi Assets Company and Wärtsilä Energy.
Does Cenpower Generation Company have an API?
No public API is recorded for Cenpower Generation Company.
What industry is Cenpower Generation Company in?
Its primary akta.pro industry code is EUACABAI, Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield). Its NAICS code is 22111 and its SIC code is 4991.