- Ghana has signed a US 250 million Memorandum of Understanding (MoU) with Siemens to extend Ghana’s power transmission infrastructure.
The Ghana Grid Company Limited (GRIDCo) under the G20 Compact with Africa (CwA) initiative has signed a US 250million Memorandum of Understanding (MoU) with Siemens to extend Ghana’s power transmission infrastructure. The initiative will improve the country’s grid capacity and stability, as well as enable and expand a stable power export to neighbouring countries in the West African Power Pool.
Addressing the President during the deal signing, President and Chief Executive Officer (CEO) of Siemens, Joe Kaeser, said he was pretty much excited that the deal has finally been completed. “The MOU we have signed together with our partners, GRIDCO, is aimed at modernizing the whole grid of Ghana to bring power to the people in a more efficient way,” Mr Kaeser said.
On his part, President Akufo-Addo noted that the signing of the MOU is a very important development in the history of the country. “This is a very welcomed development for us and the idea that Ghana is the first country on the continent to be getting a very significant transaction out of the Compact is in itself a big vote of confidence by the German Leadership. We therefore welcome that expression of confidence and we want to assure you that the monies will be put to good use,” he added.
Author: Bryan Groenendaal