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

Finance Minister Dr Cassiel Ato Forson announced that Ghana is constructing a 1,200-megawatt state-owned gas-fired power plant to fulfill the nation's industrial aspirations. This new facility will be the largest power plant in Ghana, surpassing the current 1,020-megawatt Akosombo Hydroelectric Power Station. Speaking at the Future of Energy Conference 2026, organized by the Africa Centre for Energy Policy (ACEP), Dr Forson emphasized the importance of reliable and affordable energy for Ghana's industrial ambitions.

Dr Forson highlighted that Ghana's investment aligns with the larger challenge of energy access and financing across Africa. He pointed out that approximately 600 million Africans currently lack electricity, yet Africa only receives around 2% of global clean-energy investment. To industrialize the continent, Dr Forson stressed the necessity of creating the right conditions to attract more investment into Africa's energy sector.

This involves establishing efficient utilities, maintaining predictable regulation, and offering viable opportunities for private investors.

Acknowledging that major energy projects necessitate substantial long-term financing beyond government capabilities, Dr Forson called for various mechanisms to address Africa's energy financing gap. These include guarantees, blended finance, local-currency funding, development of deeper capital markets, and credible public-private partnerships.

He underscored that substantial long-term financing is required for such projects, which individual governments cannot provide alone. The finance minister's announcement of the proposed 1,200-megawatt power plant exemplifies Ghana's commitment to securing reliable and affordable energy to power industries, generate employment, and stimulate economic transformation in the country.