Ghana to build biggest 1,200-megawatt power plant since independence – Ato Forson

Finance Minister Dr Cassiel Ato Forson has disclosed that the government is constructing a 1,200-megawatt state-owned gas-fired power plant as part of efforts to provide reliable and affordable electricity to support Ghana’s industrial transformation.

When completed, the facility is expected to become the country’s largest power plant, surpassing the 1,020-megawatt Akosombo Hydroelectric Power Station.

Speaking at the Future of Energy Conference 2026, organised by the Africa Centre for Energy Policy (ACEP), Dr Forson said dependable and affordable electricity was critical to achieving Ghana’s industrialisation ambitions.

“Ghana is acting by building a 1,200 MW state-owned gas-fired power plant,” he said.

The Finance Minister linked Ghana’s investment in power generation to the wider energy access and financing challenges confronting Africa.

“About 600 million Africans lack electricity, yet Africa attracts only around 2 per cent of global clean-energy investment,” he said.

“We cannot industrialise a continent the world considers too risky to power.”

Dr Forson said African countries needed to create an enabling environment capable of attracting significantly more investment into the energy sector.

He identified efficient utility companies, predictable regulatory frameworks and credible investment opportunities for the private sector as essential to closing the continent’s energy gap.

The Minister acknowledged that large-scale energy infrastructure requires substantial long-term financing, which governments alone may not be able to provide.

“In 2025, Africa's debt-servicing costs were equivalent to more than 85 per cent of the continent's energy investment. Public budgets cannot carry it alone,” he stated.

He therefore advocated the use of guarantees, blended financing, local-currency funding, deeper capital markets and credible public-private partnerships to mobilise the resources required for Africa’s energy development.

Dr Forson said Ghana’s planned 1,200-megawatt plant reflected the government’s commitment to securing a stable and affordable power supply capable of supporting industrial growth, creating jobs and driving broader economic transformation.