The Sol Group Limited, a UK-based development company, has signed a memorandum of understanding with Bharat Heavy Electricals Limited (BHEL) -- India's largest engineering and manufacturing firm -- to build a US$400million 400 MW capacity power station in Ghana.

The Sol Group had previously obtained an invitation to submit a proposal from the Ministry of Power in Accra.
Sol Group Managing Director for Ghana Peter Osei-Tutu said the Sol Group is determined to help solve Ghana's acute need to build more power stations and resolve the pressing energy supply problem, helping return the nation to better economic growth.

He said after considering all options, The Sol Group chose to commission BHEL as contractor for the project.
"BHEL has a excellent proven track-record of on-budget and on-time delivery since 1964 both in India and around the world, especially in Africa," he said when signing the memorandum of understanding.

Sanjay Garg, Deputy General Manager at BHEL who signed on behalf of the Indian company, said he is very confident of a successful venture in Ghana.

Iddrisu Tahiru, political and economic counsellor at the High Commission of Ghana in New Delhi, who met with the Sol Group Managing Director before the signing of the memorandum of understanding said: "Foreign investment in Ghana's energy sector is very welcome and I'm sure the Ministry of Power in Accra looks forward to reviewing the Sol Group's proposal. We at the Ghana High Commission are very familiar with BHEL and happy for them to be involved in this project".