File photo of thermal plants
Minister of Finance, Dr Cassiel Ato Forson, has announced that Ghana will begin constructing a 1,200-megawatt state-owned thermal power plant in 2026.
Speaking during the 2026 Budget presentation in Parliament on Thursday, November 13, 2025, he said the plant will provide reliable, affordable electricity, strengthen energy security, and support the country’s gas-to-power transformation.
Dr Forson explained that Ghana’s gas-to-power strategy is moving the country from costly light crude oil to cleaner, locally produced natural gas.
In the past 10 months, gas production has increased by over 50 million standard cubic feet per day, thanks to expansions by the Offshore Cape Three Points (OCTP) partners and the Jubilee and TEN fields. New agreements are expected to add another 150 million standard cubic feet daily, ensuring enough fuel for the new thermal plant.
The finance minister added that the government is fast-tracking the Ghana Gas Processing Plant (GPP-2) to handle the increased gas supply.
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In total, OCTP and Jubilee partners are projected to produce 1,150 million standard cubic feet of gas per day, enough to generate up to 1,200 megawatts of electricity, surpassing the capacity of the Akosombo Dam. The new thermal power plant will secure Ghana’s energy future and support inclusive economic growth.
Dr. Forson also highlighted measures to boost oil and gas production, noting a decline from 71.4 million barrels in 2019 to 36 million in 2025. Investor-friendly reforms have already attracted over $3.5 billion in new investments, including commitments from Jubilee, TEN, and OCTP partners.
GNPC will begin drilling in the offshore Voltaian Basin in October 2026, while government initiatives will focus on rural electrification and urban intensification to achieve universal access to power and support Ghana’s 24-hour economy policy.
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