Genser secures $425mn for gas midstream projects

Genser Energy, a leading energy service provider in Ghana, has recently secured a $425 million facility to fund expansion projects and address existing debt. The Vice President of Project Development at Genser Energy, Frances Rogoz, shared insights during a recent interview with CNBC Africa, shedding light on the company's strategic initiatives and future plans. The facility includes a $325 million senior loan facility and $100 million of MES, primarily aimed at refinancing existing debt and funding three key projects in Ghana. The first project involves extending an existing 300-kilometer natural gas pipeline to Kumasi, Ghana's second-largest city. Additionally, Genser Energy will be constructing a 200 million standard cubic feet per day gas processing facility in Prestia and a natural gas liquid storage terminal in Takoradi. These projects are crucial for advancing the company's focus on transitioning to a greener future by utilizing natural gas as a transitional fuel. The company's decarbonization strategy involves leveraging Ghana's significant offshore gas reserves to reduce greenhouse gas emissions, displace dirtier fuels, and provide cleaner and more affordable energy solutions to end users. By integrating gaseous fuels like natural gas into their energy portfolio, Genser Energy aims to pave the way for a sustainable and cost-effective transition to renewable power sources. The company's roadmap to achieve net zero emissions by 2035 includes developing wind, solar, and hydroelectric projects alongside gas-based solutions. These efforts align with the Ghanaian government's decarbonization goals and commitment to achieving carbon neutrality in the coming decades. Notably, Genser Energy is exploring emerging technologies such as carbon sequestration and hydrogen to accelerate their transition to cleaner energy generation. The company remains dedicated to ensuring the affordability of energy sources for end users by progressively driving down costs through the adoption of renewable and gaseous fuels. As technology continues to evolve and improve, Genser Energy envisions a future where renewable power becomes the most cost-effective and accessible energy option for consumers.