US$2 Billion Investment in Energy Infrastructure Announced
The Minister of Finance, Dr. Cassiel Ato Forson, disclosed a significant investment of US$2 billion dedicated to enhancing energy infrastructure as part of the New Economy Programme’s third pillar.
Thermal Power Plant Construction Set to Begin
In the presentation of the 2027 Budget, Dr. Forson outlined plans to commence construction on a 1,450 MW thermal power plant located at Kafodzidzi-Abrobeano, situated in the Central Region, starting in December 2026.
State-Owned Power Generation
The newly proposed plant will be financed and owned entirely by the government, with the initial 600 MW capacity expected to be operational by December 2028, followed by the additional 850 MW by December 2030.
Gas Supply for Thermal Plant
This facility will utilize approximately 150 million standard cubic feet of additional gas sourced daily from the Sankofa and Jubilee gas fields.
Solar Power Initiative
In addition, Dr. Forson announced plans for a state-owned solar power plant boasting a capacity of 600 MW, complemented by 2,000 MWh of battery storage.
Improving Electricity Supply
These projects, including the thermal power plant, aim to provide sustainable electricity for residential and industrial use, enabling the phased retirement of emergency power plants by 2030.
Investment in Transmission System
The Minister also highlighted an investment of US$500 million earmarked for the modernization of the electricity transmission system, alongside the deployment of two million prepaid meters to enhance revenue collection from 2027 to 2030.
Nuclear Energy Development
Furthermore, Dr. Forson announced a US$200 million investment in a nuclear readiness program set to span 24 months, beginning from January 2027 to December 2028.
Training for Nuclear Expertise
This initiative aims to train over 2,000 scientists to cultivate local proficiency in the safe and reliable management of nuclear energy.
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