By Rayon Lakingu – EMTV News, Port Moresby
The government has named Shenzhen Energy Group, to be consortium partner in the Ramu 2 Hydropower Project.
State Enterprise Minister, William Duma, made this announcement today in the presence of China’s Shenzhen Energy Group President, Pingyang Wang.
The Minister says the 180 megawatts Ramu Hydropower project is the largest power project PNG has ever developed.
The National Government endorsed the selection of Shenzhen Energy Group in 2016, to finance and construct the hydro project. Under the Public Private Partnership model, the asset will be given back to the government of PNG after 25 years of operation – debt free and will continue to operate for a further 75 years.
The Minister says the project is valued at K3 billion and represents the state’s directive, to generate least-cost power to the country. Meanwhile, KCH Limited has reviewed the commercial agreement and will present it to the National Executive Council for approval, before the project is executed.
The project, upon its completion, will supply electricity to the Wafi-Golpu and Ramu Nico Mines, as well as the people on the Ramu System.
Kumul Consolidated Holdings, Managing Director, Darren Young, said the project will create more job opportunities for the people. Shenzhen Energy Group President, Pingyang Wang, thanked the government, for the confidence of having his corporation deliver PNG’s first ever multi-billion kina hydropower project.
The project starts in March next year and is expected to be completed by November 2024.
