GE finalises $560m power deal with Ghana

Mr Jeffery Immelt, Chief Executive Officer of General Electric on Tuesday arrived in Ghana to conclude negotiations with the execution of the $560 million Ghana 1000 megawatts gas powered plant.

The final negotiations, which would be concluded on Wednesday would provide additional 1,200 megawatts of power to enable Ghana to become self-sufficient and a net exporter of energy.

The first phase of the project, which is expected to be completed in 2016 would provide 750 megawatts of power, while the second phase to be finished in 2018 would provide additional 500 megawatts.

At the Peduase lodge in the Eastern Region, where he met President John Dramani Mahama, the  Global Chairman of General Electric said the $1 billion project, to be located in the Western Region would include a Floating Storage and re-gasification Unit to facilitate importation of Liquified Natural Gas for power generation.

He said Ghana’s development agenda needs a step up in energy and power and he was happy to be associated with power generation in the country aside the instrumental role in health care in the country and other African nations.

Mr Immelt said it was a dream come true to have his outfit partnering Ghana to upscale power production for both domestic and external consumption and called for effective collaboration that would speed up the execution.

President Mahama commended General Electric for its interest in partnering government to add value and more megawatts of power to the national grid to reduce the growing inadequacies in power.

He said apart from that, government is making inroads to become part of the United States President Obama’s power project for Africa to leverage and catapult growth and development.

President Mahama said government is also collaborating with World Bank to resolve guarantees for ENI to embark on the exploitation of oil and gas at Cape three points.

Source: GNA