Ghana to build its biggest power plant since independence — Ato Forson

Ghana's Finance Minister Dr Cassiel Ato Forson announced plans for the construction of the country's largest power plant since gaining independence. The 1,200-megawatt gas-fired facility will provide reliable and affordable electricity to support Ghana's industrial development, surpassing the existing 1,020-megawatt Akosombo Hydroelectric Power Station.

Speaking at the Future of Energy Conference 2026, Forson emphasized the importance of affordable energy for Ghana's industrial ambitions. He highlighted that about 600 million Africans lack electricity, despite Africa receiving only 2% of global clean-energy investment. Forson stressed the need for African countries to create favorable conditions to attract more investment in the energy sector, including efficient utilities, predictable regulation, and credible opportunities for private investors.

He acknowledged that major energy projects require significant long-term financing beyond government resources. In 2025, Africa's debt-servicing costs consumed over 85% of its energy investment, indicating the need for guarantees, blended finance, local-currency funding, developed capital markets, and credible public-private partnerships to address Africa's energy financing gap.

Forson affirmed that Ghana's planned 1,200-megawatt power plant demonstrated the government's commitment to securing reliable and affordable energy to fuel industries, generate employment, and drive economic transformation.