Ghana Finance Minister Dr Cassiel Ato Forson has announced that the government is developing a 1,200-megawatt state-owned combined-cycle gas-fired power plant.
Ato Forson disclosed that the 1,200MW gas power plant in development is at Kafodzidzi-Abrobeano in the Komenda-Edina-Eguafo-Abrem Municipality to boost electricity generation and lower power costs.
According to Ato Forson, feasibility studies have confirmed the project’s viability, with preparatory work already underway.
He further disclosed that environmental, engineering and permitting processes are progressing steadily.
Ato Forson highlighted that the first phase of the project is expected to come on stream in 2028.
Presenting the 2026 Mid-Year Fiscal Policy Review in Parliament on Thursday, July 23, Dr Forson stated, “The government is also developing a 1,200-megawatt state-owned combined-cycle gas-fired power plant at Kafodzidzi-Abrobeano in the Komenda-Edina-Eguafo-Abrem Municipality”.
“Feasibility studies have confirmed the project’s viability, with environmental, engineering and permitting processes progressing steadily. The first 600-megawatt phase is expected to be commissioned in 2028.”
He further revealed that the government has secured the gas turbines directly from GE Vernova to reduce the overall cost of the project.
“To reduce costs, the government has secured the gas turbines directly from GE Vernova, achieving savings of between 35 and 45 per cent compared with third-party procurement.”
“The project will lower electricity generation costs, help reduce electricity tariffs by 10-20 percent and create more than 2,000 direct and indirect jobs during the first phase.”
Ato Forson revealed that the 1,200MW gas power plant forms part of the government’s broader efforts to strengthen the country’s energy infrastructure and ensure a more reliable and affordable electricity supply.
Meanwhile, Dr Cassiel Ato Forson has assured Ghanaians that their money is safe under the current Mahama government.
Ato Forson pledged to manage public finances with honesty, prudence and unwavering accountability.
According to Ato Forson, the ultimate responsibility of a Finance Minister is not measured by the volume of government expenditure but by how effectively public resources are safeguarded.
Delivering the closing remarks of the 2026 Mid-Year Budget Review in Parliament on Thursday, July 23, Dr Forson stated, “The true measure of a Finance Minister is not how much he spends, but how faithfully he protects the resources entrusted to him”.
“The money we manage does not belong to those entrusted to manage it. It belongs to the people of Ghana – it belongs to you!” he declared.
“Every cedi collected in taxes, every cedi borrowed and every cedi spent carries with it a sacred obligation to use it wisely, honestly and always in the national interest”.
“My assurance to this House and to every Ghanaian is simple: your money is safe”, he added
Ato Forson added that under Mahama’s administration, the government remains committed to maintaining sound economic management and protecting the country’s financial stability.
“Under the leadership of President Mahama, your economy is in safe hands. And as long as I have the honour to serve as Minister for Finance, it will remain so.”
“I pledge to level with you always. We will tell you the truth about the state of our public finances, whether the news is welcome or difficult.”
“We will neither conceal our challenges nor exaggerate our successes.”
“Trust is built on truth, and truth must remain the foundation of sound economic management.”
“Our responsibility now is not merely to celebrate these gains but to preserve them for future generations.”
“Economic stability is not an event. It is a duty renewed every day through prudent stewardship, fiscal discipline and unwavering accountability.”
“Under the leadership of President Mahama, and with the determination of the Ghanaian people, Ghana is moving forward, steadily, honestly and together,” he concluded.
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@ghnow_ The Governor of the Bank of Ghana, Dr. Johnson Asiama, has arrived in Parliament ahead of the presentation of the 2026 Mid-Year Budget Review. Stay with GHNow for live updates and key highlights. #GHnow #fyp ♬ original sound – GHnow
