Ghana Targets Additional 3,000MW Power Capacity by 2030 — Ato Forson

Ghana’s Finance Minister, Cassiel Ato Forson, has announced that the government is targeting an additional 3,000 megawatts of installed power generation capacity by 2030 as part of efforts to drive industrialisation and ensure energy stability.

Speaking at the Ishmael Yamson & Associates Business Roundtable on Thursday, May 28, Dr Forson said reliable electricity remains critical to Africa’s economic transformation and competitiveness.

According to him, Ghana’s energy expansion agenda forms a central pillar of the country’s industrial development strategy.

“Ghana understands these challenges deeply. We are therefore targeting 3,000 megawatts of installed generation capacity by 2030,” he stated.

Dr Forson disclosed that President John Dramani Mahama had recently announced plans for the construction of 1,200 megawatts of new power infrastructure as part of the broader expansion programme.

“Our goal is to achieve 3,000 megawatts of additional installed capacity by 2030. Of this, 30% of this will be renewables,” he added.

The Finance Minister noted that energy shortages continue to pose major setbacks to economic growth across Africa, revealing that the continent loses an estimated US$25 billion annually due to power outages.

“We cannot industrialise in darkness. Energy remains central to Africa’s transformation. Yet over 600 million Africans still lack access to electricity,” he said.

He described the situation as unacceptable, especially given Africa’s abundant natural resources, including gas, hydro, solar, wind, and critical minerals needed for the global energy transition.

“This is unacceptable in a continent endowed with abundant gas, hydro, solar, wind, and critical minerals required for the global energy transition,” he stressed.

Dr Forson further argued that Africa’s future industrial success would depend on moving beyond raw material exports toward value addition and manufacturing.

“The next quarter of a century will therefore become Africa’s industrial century, not just extracting lithium, but refining lithium; not just exporting bauxite, but producing aluminium; not just exporting cocoa, but processing and building competitive value chains,” he said.

He also highlighted the importance of the African Continental Free Trade Area in boosting intra-African trade and supporting economic growth across the continent.

“Trade integration is an economic survival strategy,” the Finance Minister added.