Ghana will today sign a deal with American energy giant, General Electric (G.E) for the production of the single largest power source in the history of the country.
The Ghana 1000 megawatt project, which is a gas powered thermal plant is expected to be completed over the next five years.
[contextly_sidebar id=”gHiJJMUhappBCumZoDs6aozJbWo7IQNf”]The $1 billion project will have its first phase add about 300 megawatts of electricity to the national grid by the third quarter of 2016, while the second phase will add about 700 megawatts by 2018.
In totality, it will provide Ghana with about 1,000 megawatts of power.
This comes on the back of another agreement that was signed on Tuesday between Ghana and Italian oil company, ENI.
ENI and Vitol will help with the production of about 180 million cubic feet of gas and according to the President, the deal is a landmark agreement.
Speaking at a meeting with the Global Chairman of GE Jeffrey Immelt, President John Mahama said he is hopeful that the project when completed will make Ghana the most efficient producer and distributor of power in Africa.
“Even though we call it Ghana 1,000, the power will be a bit above 1,000,” adding that, “this will be the single largest injection of power into our transmission grid in history.”
The President was hopeful that by the time the companies complete the implementation of this facility in five years, Ghana will be not only the most efficient producer but the most efficient transmitter and distributor of power in Africa.
“It will be bigger than total power from the Akosombo hydro-electric power plant,” he observed.
On his part, the Global Chairman and Chief Executive officer of G.E Jeffrey Immelt said his company is excited by the opportunity to partner Ghana in this great project.
By: Efua Idan Osam/citifmonline.com/Ghana