Finance Minister Unveils 1,200MW Gas Power Project, Promises Cheaper Electricity and 3,000 Jobs
Finance Minister Dr. Cassiel Ato Forson has announced that the government is developing a 1,200-megawatt combined-cycle gas-powered plant at Kafodzidzi in the Komenda-Edina-Eguafo-Abrem (KEEA) Municipality.
Speaking during the midyear budget review in Parliament, the Finance Minister said visibility studies have confirmed the project’s viability, with environmental, engineering and permitting processes already completed.
According to him, the first 600MW phase of the project is expected to become operational in 2028, marking a major milestone in government’s efforts to boost electricity generation capacity.
Dr. Forson disclosed that to cut project costs, the government secured gas turbines directly from the manufacturer, GE Vernova, instead of using third-party procurement channels. He said the approach is expected to deliver cost savings of between 35% and 45%.
He added that once completed, the project will significantly reduce electricity generation costs, paving the way for a 10% to 20% reduction in electricity tariffs.
The Finance Minister also revealed that the first phase of the project is expected to create more than 3,000 direct and indirect jobs, providing a major boost to employment while strengthening Ghana’s energy security.
By Maurice Otoo
