Reuters quoted GE chief executive Jeff Immelt as saying that the thermal power facility will become operational in the next five years.
The US-based firm will also offer emergency power systems to the West African nation this year which will help the latter to tackle the existing power crisis.
Once operational, the project will become the largest in the country, and exceed production of the primary hydroelectric source at Akosombo.
Immelt said: "We stand ready to be a great partner for emergency power by the summer, and also we will invest and bring together some other investors to make this (thermal project) happen."
The project will be divided into two phases, with the first phase comprising a 750MW plant, which will run on liquefied natural gas and become operational by 2017.
In the second phase, another plant will become operational by 2019.
