if its all you've got then it will do
Generally speaking the more power the better when it comes to grinders
You will be better off looking for a belt sander/linisher that doesn't have a bench grinder on the other end. The bench grinder won't get used much and these combination machines tend to be much lower powered than a beltsander of the same price
The first dozen knives I made (this is before the current obsession with easy scandi grinds) were done with only files and hacksaws, the only power tool I had was a cheapy drill press.