Ghana will soon have a 330mw gas-fired combined cycle power plant to boost power generation.

This follows the signing of an MoU between Siemens AG and Rotan Energy, which was witnessed by Vice President Dr Mahamadu Bawumia and Brigitte Zypries, Germany's Minister for Economic Affairs and Energy at the Flagstaff House Wednesday.

The plant is projected to be the cheapest on the market and when integrated into Ghana’s national grid, would significantly reduce the cost of electricity.

Germany Minister for Economy and Energy was joined by about 35 Business organizations including Siemens, Bosch, Merck etc to pay a courtesy on Vice President Mahamudu Bawumia.

The meeting is part of the three-day visit to Ghana by the President of Germany.

The meeting discussed avenues to help strengthen the economic cooperation between GHANA and Germany and explore areas to deepen bilateral trade.

In another development two German companies, Merck KGaA (Merck “) and Ridge Management Solutions („RMS“) intend to build a factory for human vaccine in Ghana.
With this factory, Ghana will be able to produce its own vaccine as well as the development of vaccine.

A feasibility study is supposed to be done beginning of 2018.