Mahama says Ghana will sign deals for 1,200MW of gas power before year end

Pinned summary · as of 15:42

President John Dramani Mahama has told Ghanaians living in New York that his government aims to conclude contracts before the end of 2026 to add 1,200 megawatts of thermal generation fuelled by gas. He spoke to the diaspora during a trip for the UN General Assembly, and used the occasion to defend his administration's handling of energy, oil and gas.

What we know

• Mr Mahama told a town hall meeting of the Ghanaian community in New York that agreements for 1,200MW of gas-fired thermal capacity will be signed before the year is out. “We're going to build the biggest thermal capacity in Ghana,” he said.
• The president argued that Ghana must move quickly on new generation so that it is not left holding stranded assets as renewable energy and electric vehicles spread worldwide.
• Mr Mahama said his government has settled the energy sector's debts and is up to date on current payments. He added that the Electricity Company of Ghana (ECG) was restructured so that power producers are paid before other spending is considered.
• On oil, the president said output has climbed by almost 38% since 2025. He said the Jubilee partners will spend a further $2 billion on 20 new wells, while Eni will put $1.5 billion towards getting the remainder of its Sankofa development producing.
• Mr Mahama also said that ExxonMobil, Shell and other large energy companies are now looking for opportunities in Ghana.

What's disputed / unconfirmed

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  The plan is described by Graphic Online and Onua Online as a state-owned plant that would surpass the 1,020MW Akosombo station as Ghana's largest; Vaultz News did not report that comparison, and it has not been confirmed independently.
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  Graphic Online reported the president as saying that Independent Power Producers who once threatened to cut supply are now offering to invest an extra 500MW, but that the government prefers state-owned capacity. No other report confirms this.
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  Vaultz News quoted Mr Mahama as saying the new capacity would be paid for from the state's own resources without fresh borrowing. This appears in that report alone.
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  Mr Mahama blamed the previous government for not honouring its IMF programme obligations even though it had already drawn the following instalment of the $3 billion facility by June 2024. He said his own government put the programme back on track. Graphic Online carried the claim, no other independent report confirms it, and no reply from the former government is reported.
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  Graphic Online reported the president as saying the debt-to-GDP ratio hit the 45% target due in 2028 by the end of last year, and that Treasury bill rates fell from 23.4% to about 5%. He also put the cedi at GH₵11.5 to GH₵11.6 through banks, and roughly GH₵12 when traded on the open forex market. These figures rest on his remarks as carried by that one publication.
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  Reports differ on the date of the meeting: Graphic Online said Friday, 25 September, while Onua Online gave 26 September.
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  Separately, Vaultz News reported that the Ministry of Energy and Green Transition, with UNDP support, launched a 2026-2030 Renewable Energy Master Plan. It puts installed solar capacity at 276.7MW at the end of 2025 and sets a 1,970 megawatt-hour battery storage target. Only that report has carried these details.

Why it matters for Ghana

Reliable electricity affects factories, shops, hospitals and homes from Accra to Tamale, and Ghanaians have lived through periods of unstable supply. A commitment on new state-owned gas capacity, if signed as promised, would shape how power is generated and paid for in coming years. The president's claims about settled energy debts and higher oil output are his own account, so households and businesses will look for evidence in steady supply and in public data.