Ghana to build 1,200 MW gas power plant, largest since independence – Dr. Ato Forson

Finance Minister Dr. Cassiel Ato Forson announced plans for Ghana to construct a 1,200-megawatt state-owned gas-fired power plant, marking it as the largest power plant built in the country since gaining independence. Upon completion, this new facility will outshine the 1,020-megawatt Akosombo Hydroelectric Power Station as Ghana's biggest power plant.

At the Future of Energy Conference 2026, hosted by the Africa Centre for Energy Policy (ACEP), Dr. Forson emphasized that reliable and affordable energy is crucial for Ghana's industrial ambitions. He highlighted that Ghana is investing in a 1,200 MW state-owned gas-fired power plant to address the broader issue of energy access and financing across Africa.

Dr. Forson pointed out that around 600 million Africans lack electricity, yet Africa only attracts approximately 2 percent of global clean-energy investment. He stressed that industrialization cannot occur on a continent that the world perceives as too risky to power. To attract more investment into the energy sector, Africa must establish an enabling environment through efficient utilities, predictable regulation, and attractive opportunities for private investors.

The Finance Minister acknowledged that substantial long-term financing is necessary for major energy projects, which governments cannot provide alone. In 2025, Africa's debt-servicing costs accounted for more than 85 percent of the continent's energy investment, making it impossible for public budgets to bear this burden alone. Dr. Forson advocated for guarantees, blended finance, local-currency funding, expanded capital markets, and credible public-private partnerships to bridge Africa's energy financing gap.

He reiterated that Ghana's proposed 1,200-megawatt power plant exemplifies the government's commitment to securing reliable and affordable energy to power industries, generate employment, and spur economic transformation.