President Mahama Briefed on 270MW Gomoa Solar Project as Government Finalizes ECG Privatization Review

The Ghanaian government is preparing to receive a critical transaction advisor’s report in early October 2026 regarding private sector participation (PSP) in the Electricity Company of Ghana (ECG). Richmond Rockson of the Ministry of Energy confirmed that the report will provide recommendations for operational improvements and evaluate potential arrangements for the utility's future. While the government noted improvements in ECG's revenue collection, a significant financial shortfall remains in the energy sector, impacting payments to independent power producers. Amidst these developments, the Trades Union Congress (TUC) has expressed reservations, stating they were not consulted on the advisor's appointment and will not be bound by the forthcoming recommendations.

In tandem with these policy reviews, President John Mahama has been briefed on a significant 270-megawatt solar power project intended to anchor the Gomoa Special Economic Zone and the Gomoa Eco Park. A delegation from AKA Energy Systems, led by MP Kwame Asare Obeng (A Plus), informed the President that preparations are well underway, with Phase One of the project expected to be completed by the end of 2027. This shift toward renewable energy comes as the Public Utilities Regulatory Commission (PURC) reported a 3.99% month-on-month decline in electricity generation for July 2026. Despite this dip, which was attributed to seasonal weather changes and reduced demand, the system peak demand reached 3,968 megawatts, reflecting a 6.61% increase year-on-year.

Beyond the power sector, the government is intensifying efforts to maximize returns from the mining industry. The Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, recently stated that Ghana has not gained enough from its century-long gold mining history. During a high-level meeting with the Shandong Gold Group in China, the Minister emphasized the need for investors who bring both financial strength and a commitment to local value retention. He assured that the government remains committed to fostering a responsible mining environment that prioritizes local employment and industrial benefits, moving away from a traditional model of raw resource export.

These domestic industrial efforts reflect a broader global trend of massive capital expenditure on energy-reliant infrastructure. For instance, Google recently announced its largest European investment to date, a $15.1 billion project in Finland to build AI-focused data centers powered by a 22-year nuclear energy deal. As Ghana seeks to develop its own economic zones and stabilize its energy mix—currently dominated by thermal power at 74.33%—the success of initiatives like the Gomoa solar project and the ECG restructuring will be vital for sustaining long-term industrial competitiveness and energy security.