American multinational conglomerate General Electric (GE) has signed a memorandum of understanding (MoU) with the Ghana government to build a 1000 megawatts power plant in Ghana.

Information released by Ghana’s Energy Ministry disclosed that the power plant, which is expected to be completed over the next five years, will enhance the country’s current power generating capacity.

Ghana’s Energy Minister, Emmanuel Buah initialed the MoU for Ghana while Jay Ireland, the President and CEO of GE Africa signed for his company.

The John Mahama administration in Ghana has promised to double Ghana’s energy generating capacity to 5000 megawatts of power by 2016.

“Under this MoU, GE will be facilitating the development, financing and technical partnership required for the implementation of an incremental 1000MW of power in collaboration with the government of Ghana over the next five years,” the Energy Ministry said on its website June 18, 2013.

The “Ghana 1000MW Project” will introduce the Power Park Concept to enable lower cost of power and faster implementation, the information further revealed.

The statement additionally explained that the GE, whose four thematic areas includes: Energy, Technology Infrastructure, Capital Finance and Consumer and Industrial, and partners plan to establish a comprehensive training programme for the power plant managers and technicians to ensure the appropriate level of skills transfer to local engineers and technicians upon completion.

This will be in addition to another hydro power plant, the $980 million 400MW Bui Dam which is under construction and should be completed by the end of the year.