Ghana Grid Company Limited (GRIDCo) has signed a Memorandum of Understanding (MoU) with global energy company Siemens, to address the country’s energy and infrastructure challenges.
The deal, worth $2.5 billion, will enable the two companies to work together to develop and improve the transmission network of Ghana, strengthen the country’s grid capability and stability, and encourage and broaden a reliable export of electricity to western Africa’s neighboring countries.
Ghana’s President, H.E. Nana Addo Dankwa Akufo-Addo, noted that the signing ceremony was an important development in the country’s energy sector, adding that “the people from GRIDCo know, as well as I do, how necessary it is to undertake this project – the retooling, and refitting of our transmission and grid system across the country.”
Siemens will also train Ghana’s youth and also provide training on Siemens equipment in various engineering programs.
“Access to electricity is an imperative need for the people and business and, thus, for economic success of any economy. As Ghana has significantly invested into generation capacity, there is now an urgent need to build a reliable, affordable and sustainable electrical network for the country and its people,” said the President and Global CEO of Siemens AG, Joe Kaeser.