The show is executive-produced by rapper Curtis "50 Cent" Jackson and created by Courtney Kemp Agboh, who will serve as an executive producer and show-runner.
"Power" is about "a wealthy New York City nightclub owner, James 'Ghost' St. Patrick, who caters to the city's elite," a synopsis said. "He wants to build an empire, turn the club into a Fortune 500 business, but there's just one problem: he is living a double life.
"When he is not in the club, he is the kingpin of the most lucrative drug network in New York for a very high-level clientele. His marriage, family and business all become unknowingly threatened as he is tempted to leave his criminal life behind and become the rags-to-riches businessman he wants to be most of all."
Production on the drama's eight-episode first season is to begin this fall for a planned 2014 premiere.
"Lela Loren joins the cast as Angela Valdes, an old flame of lead Omari Hardwick's James 'Ghost' St. Patrick who unexpectedly re-enters his life," Starz said in a news release Tuesday. "Naturi Naughton will play Tasha St. Patrick, wife, confidant and willing accomplice to James. Joseph Sikora joins the cast as Tommy Egan, childhood best friend and business partner to Ghost."