The government is implementing measures aimed at reducing electricity generation costs and making power more affordable and predictable for industries, Deputy Minister of Energy and Green Transition Richard Gyan-Mensah has said.
The measures include reducing the renewable energy tariff from about US$0.18 to US$0.065 per kilowatt-hour, capping the tariff for thermal power plants at **US$0.10 per kilowatt-hour, clearing legacy energy-sector debts and increasing domestic gas supply.
Mr. Gyan-Mensah said the government is also seeking to mobilise €10 billion in investment to meet projected peak electricity demand of 10,000 megawatts by 2040.
Of the amount, about €8 billion is expected to go into generation, while the remaining €2 billion will be used to strengthen the transmission network.
Speaking at the 2026 Ghana Industrial Summit and Exhibition (GISE) in Accra, the Deputy Minister said peak electricity demand is expected to rise from about 4,000MW to 10,000MW by 2040, with industry expected to account for a significant share of the additional demand.
To support this growth, the government plans to add more than 1,200MW of gas-fired thermal generation capacity in the medium term.
Regional power exports
Mr. Gyan-Mensah also said Ghana is exploring arrangements to transmit electricity to Nigeria, in addition to existing exports to Burkina Faso, Côte d’Ivoire and Togo.
He said Ghana has adequate generation capacity to meet current domestic demand, while Nigeria could potentially supply Ghana with additional natural gas for power generation.
Industry concerns
The government’s plans come amid concerns from manufacturers over rising electricity costs.
President of the Association of Ghana Industries (AGI), Kofi Nsiah-Poku, said some manufacturers had experienced almost 30 per cent increases in their electricity bills, affecting production and operating hours.
He called for a review of arrangements governing industrial electricity costs and increased renewable energy contributions to the national grid.
Mr. Nsiah-Poku also advocated the introduction of net metering for industries to help reduce electricity costs and improve the competitiveness of local manufacturers.
The GISE energy and industrial session focused on building a reliable and sustainable energy system capable of supporting industrial growth, with discussions also covering energy reliability, local production and regional exports.