Ghana is set to commit US$200 million towards a two-year nuclear energy readiness programme beginning in January 2027, as the government moves to establish a fully state-owned nuclear power plant to anchor its industrialisation agenda.
Finance Minister Dr Cassiel Ato Forson disclosed the allocation on the floor of Parliament while presenting the 2027 Budget and the New Economy Agenda. The initiative, which will run through to December 2028, is designed to put in place the foundational technical, regulatory, financial, and environmental frameworks required before actual construction of the facility begins.
“Ghana will invest 200 million United States dollars in a 24-month nuclear readiness programme from January 2027 to December 2028,” the Finance Minister told Parliament.
Crucially, Dr Forson ruled out any private ownership model for the upcoming energy infrastructure, insisting the facility will be wholly owned by the state rather than operated as an independent power producer (IPP) selling electricity back to the national grid. While foreign entities will be brought on board to assist with execution, ultimate control will remain firmly in Ghanaian hands.
“The nuclear power plant will remain a strategic national asset, and it will not be developed as an independent power producer,” the Finance Minister told Parliament.
Clarifying the scope of external involvement, he noted: “International partners will only provide technology, financing, engineering, and specialist services.”
Dr Forson also moved to manage public expectations regarding the timeline, explaining that the December 2028 milestone marks the completion of preparatory milestones rather than the immediate supply of nuclear-generated electricity to homes and industries. Instead, the two-year window is aimed at satisfying international standards so the country can formally sign the engineering, procurement, construction, and financing (EPCF) agreement.
“By December 2028, our target is to complete nuclear power readiness and sign the engineering, procurement, construction, and financing contract for a fully state-owned nuclear base load power plant,” he stated.
According to the Minister, hitting this target requires rigorous groundwork across multiple fronts, ranging from environmental reviews and financing structures to strict regulatory licensing, emergency response planning, and nuclear safeguards.
“Nuclear power readiness in 2028 does not mean nuclear power generation in 2028,” Dr Forson emphasised. “It means that site suitability, technology selection, environmental assessment, financing, licensing preparation, safeguards, emergency planning, and safety case have reached the standard where we can sign a contract.”
By: Rainbowradioonline.com/Ghana