The government has committed US$200 million to a 24-month nuclear power readiness programme as the Mahama administration intensifies efforts to introduce nuclear energy into the country’s electricity generation mix.
The investment is expected to prepare the country for the development of a fully state-owned nuclear power plant, with December 2028 set as the target for completing all preparatory activities and signing an engineering, procurement, construction and financing (EPCF) contract.
Finance Minister Dr Cassiel Ato Forson announced the initiative during his presentation of the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12, 2026.
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The programme, scheduled to run from January 2027 to December 2028, will establish the technical, regulatory, financial and institutional foundations required for Ghana’s proposed nuclear power project.
Dr Forson clarified that the December 2028 target does not mean Ghana will begin generating nuclear electricity by that date. Instead, the period will be dedicated to completing the critical preparations necessary to move the project into its implementation phase.
These preparations will include comprehensive site studies, nuclear technology selection, environmental assessments, financing arrangements, licensing preparations, safeguards, emergency response planning and the development of the required nuclear safety case.
The Government intends to ensure that the proposed facility meets international nuclear safety standards and is financially and technically viable before construction begins.
Ghana to retain full ownership of nuclear power plant
A key feature of the proposed nuclear project is the Government’s decision to retain full ownership of the facility, ruling out the independent power producer (IPP) model.
Under the proposed arrangement, international partners will be engaged to provide nuclear technology, financing, engineering expertise and other specialised services, while the plant remains a strategic national asset owned by the Ghanaian State.
To strengthen local expertise, the Government also plans to train more than 2,000 scientists to develop the human resource capacity required to support the country’s nuclear energy ambitions.
The initiative forms part of a broader US$2.2 billion energy infrastructure programme designed to strengthen electricity generation and improve energy security.
Other components include a 1,450-megawatt state-owned thermal power plant, a 600-megawatt solar facility, investments in battery storage and upgrades to electricity transmission infrastructure.
Explaining the rationale behind the investment, Dr Forson stressed the importance of securing reliable baseload electricity to support Ghana’s long-term industrialisation agenda.
He indicated that the country’s ambitions to expand mineral processing, manufacturing and other energy-intensive industries would require a dependable and sustainable electricity supply.
The Finance Minister drew comparisons with the construction of the Akosombo Dam more than six decades ago under Ghana’s first President, Dr Kwame Nkrumah.
He described the nuclear power ambition as another major investment in the country’s future, arguing that Ghana must demonstrate the same level of long-term vision and commitment in securing its electricity needs.