GE signs Memorandum of Understanding to build 1,000 MW power plant in Ghana

GE to install 1000 MW of power in Ghana

General Electric (NYSE: GE) has signed a Memorandum of Understanding with the government of Ghana to add 1,000 MW of power to the country’s capacity over the next five years, according to a release from the country’s Ministry of Energy and Petroleum.

Under the memorandum, GE will be “facilitating the development, financing and technical partnership” required for the implementation of the power, according to the release. GE Africa President and CEO said the company believes reaching Ghana’s energy targets will “ultimately enhance the economic development and competitiveness of the Ghanaian” economy. GE will help develop the power park in collaboration with partners and investors, and will establish a training program for power plant managers and technicians.

The Ghanaian government has targeted generating an additional 5,000 MW of power capacity in the country by 2016.

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