Ghana Energy Civil Nuclear Industry
Ghana currently has an electrification coverage of more than 80% nationally and is by far one of the most electrified countries in Sub Saharan Africa. The current power generation mix is 36% from hydroelectric sources and more than 60% from thermal sources. Renewable energy comprises just about 1%. Energy costs remain high for industrial consumption, and Ghana’s population growth and increased industrialization are expected to significantly reduce its current power surpluses during the next several years.
Ghana is looking at the civil nuclear sector as one means to address its three goals of: 1) transitioning to more climate-friendly power generation; 2) reducing electricity costs for industrial off takers; and 3) ensuring sufficient power generation capacity. Ghana published a Request for Information (ROI) on solutions for a civil nuclear power generation to identify a strategic partner for this major effort. Ghana’s Energy Minister has emphasized the Government is open to deploying either a Small Modular Reactor (SMR), a Large Reactor, or a combination of both. A final decision on the project has been delayed several times but may happen in the first quarter of 2024.
In 2021, Ghana concluded a Nuclear Cooperation Memorandum of Understanding with the United States. It is currently participating in the Foundational Infrastructure for Responsible Use of SMR Technology (FIRST) program, which is spearheaded by the U.S. Department of State. Further, in November 2023, Ghana’s Nuclear Power Institute of the Ghana Atomic Energy Commission, in partnership with the U.S. Department of Energy, hosted the first ever U.S. – Africa Nuclear Energy Summit. The summit provided a platform for both countries to explore mutually beneficial areas of collaboration and highlighted the United States’ readiness to assist Ghana to achieve its civil nuclear goals. Private U.S. companies operating in the U.S. and global nuclear industry were also present and demonstrated their capabilities.
The final choice of Ghana’s strategic partner for the development of civil nuclear power, a project estimated to be worth several billion dollars, will have large implications for future commercial opportunities in the sector - including a wide range of activities from:
• Plant construction
• Fuel supply and management
• Operation
• Decommissioning, and
• Waste management, among others.
The project also would create an industrial park near the power generation site for industrial off takers; an aspect of the project that could be transformative for U.S. companies looking to invest in energy-intensive industries in Ghana.
To find out more about the power generation and civil nuclear sector in Ghana, please contact PaaEkow Quansah at CS Ghana at Office.Accra@trade.gov or Telephone +233(0)30-274-1870. Please see our Country Commercial Guide and our wide range of market intelligence reports on our website at www.trade.gov/ghana.