2026 mid-year budget review: Govt developing 1,200MW power plant to cut electricity costs
Finance Minister Dr. Cassiel Ato Forson announced plans to develop a 1,200-megawatt state-owned combined-cycle gas-fired power plant during the 2026 Mid-Year Fiscal Policy Review in Parliament. The project will be located at Kafodzidzi-Abrobeano in the Komenda-Edina-Eguafo-Abrem Municipality of the Central Region. Dr. Ato Forson stated that the government expects the first phase of the project, which will generate 600 megawatts, to be completed and commissioned by 2028.
Feasibility studies have confirmed the project's viability, with environmental assessments, engineering works, and permitting processes progressing. The government has secured gas turbines directly, expecting savings of between 35% and 45%. The power plant is projected to lower electricity generation costs and contribute to a reduction in electricity tariffs by between 10% and 20%. The first phase of the project is also projected to create more than 2,000 direct and indirect jobs.
Quick Summary
Ghana's government is developing a 1,200-megawatt power plant to enhance energy security and reduce electricity costs. This initiative aims to
Summary - read the full story for complete context.
Image: Adom Online
GhanaFront aggregates news from trusted sources. Click to read the original article.
Keywords
Explore related tagsMore from Adom Online
Related Stories
More from Business & Economy
Gov't developing 1,200MW gas power plant to cut electricity costs - Ato Forson
Discover how a new 1,200MW gas power plant could transform Ghana's energy landscape and what it means for your electricity bills.
4h ago•2 min read
Finance Minister to present 2026 Mid-Year Budget Review today
All eyes are on Parliament today as the Finance Minister prepares to unveil the Mid-Year Budget Review-what will it reveal about Ghana's economy?
15h ago•2 min read
DDEP coupon payment: Good news for bondholders as gov't assures timely payment
Amidst ongoing economic adjustments, the government's commitment to its debt obligations is under scrutiny, raising questions about the future of
3h ago•2 min read
Why similar vehicles attract different import duty rates: What you need to know before importing a car into Ghana
Uncover the crucial factors Customs officials use to classify vehicles and determine import duties, even before your car arrives in Ghana.
7h ago•4 min read
