Finance Minister Dr. Cassiel Ato Forson has announced plans to build a 1,200 MW state-owned gas-fired power plant to provide reliable and affordable electricity for Ghana’s industrial sector. Once completed, the facility will become Ghana’s largest power plant, overtaking the 1,020 MW Akosombo Hydroelectric Power Station.
Dr. Forson said Ghana needs reliable and affordable electricity to support its industrial ambitions. He said the government is responding by developing the 1,200 MW gas-fired power plant.
The minister also linked Ghana’s plans to the wider challenge of energy access and financing across Africa. He noted that about 600 million Africans still lack access to electricity, while the continent receives only around 2 percent of global clean-energy investment.
Dr. Forson argued that Africa cannot industrialize if investors continue to view the continent as too risky to finance its energy needs. He said African countries must create stronger conditions for investment by improving utilities, ensuring predictable regulations, and creating credible opportunities for private investors.
He also acknowledged that governments cannot finance major energy projects on their own because these projects require large amounts of long-term capital.
Dr. Forson said Africa’s debt-servicing costs reached more than 85 percent of the continent’s energy investment in 2025. He argued that public budgets therefore cannot carry the full cost of expanding the continent’s energy infrastructure.
The Finance Minister called for guarantees, blended finance, local-currency funding, stronger capital markets, and credible public-private partnerships to help close Africa’s energy financing gap.
He said Ghana’s planned 1,200 MW power plant reflects the government’s effort to secure the reliable and affordable electricity needed to support industries, create jobs, and drive economic growth.
source: 3news.com
African Energy Council