Kosmos Energy has announced a major investment of US$2 billion to expand its upstream operations in Ghana, a move that is expected to significantly enhance the country’s petroleum sector. The announcement, made by Ghana’s Minister of Energy and Green Transition, John Jinapor, marks a key milestone in the nation’s efforts to position itself as a competitive and investor-friendly destination in the global energy market.
Speaking at the 2025 Africa Energy Forum (AEF) during the Offshore Technology Conference (OTC) in Houston, Mr. Jinapor described the investment as a signal of Ghana’s growing appeal to global investors.
He emphasized that the country is entering a new phase, one defined by stability, transparency, and strong government support for the energy sector.
“We are committed to reforming and creating a favorable environment for investment,” Jinapor said. “Ghana is open for business, and we want the world to know that we are ready for partnerships that will drive the energy sector forward.”
As part of its broader strategy to attract investment, the government is undertaking a comprehensive review of its upstream fiscal regime, aimed at improving competitiveness and providing greater regulatory clarity. Jinapor called on both local and international stakeholders to engage in the process of shaping the future of Ghana’s energy sector.
Energy Demand Surge and 2025 Projections
In addition to the announcement of the Kosmos investment, Ghana’s electricity demand has seen a sharp rise. According to the Energy Commission, the country’s peak load in 2024 reached a record high of 3,952 megawatts (MW), a 9.2% increase from 2023. The surge in demand reflects the country’s robust economic growth and expanding energy needs, particularly across key distribution zones like the Electricity Company of Ghana (ECG) and the Northern Electricity Distribution Company (NEDCo).
Looking ahead, electricity planners forecast that the peak load will continue to climb in 2025, with an estimated peak of 4,125 MW, an additional 4.4% increase. Ghana’s installed electricity generation capacity stood at 5,260 MW as of November 2024, with a dependable capacity of 4,856 MW. For 2025, the available capacity is projected to remain at 5,260 MW, with a dependable capacity of 4,855 MW, providing an 18% reserve margin to meet peak demand.
However, experts caution that fuel supply availability and maintenance schedules for generation units could impact the actual available capacity. Ghana’s energy mix is a blend of hydro, thermal, and renewable energy sources, with the thermal plants relying heavily on natural gas.
Ghana’s Role as a Regional Energy Hub
Jinapor also highlighted Ghana’s importance in ensuring energy security across the West African sub-region. He underscored that the country’s ongoing efforts to scale up production and maintain a reliable power supply are critical for neighboring nations such as Benin, Togo, Côte d’Ivoire, and Burkina Faso.
“The prospects for Ghana’s energy future are becoming clearer,” Jinapor stated. “With our commitment to increasing production, Ghana will continue to play a pivotal role in powering the region.”
The discussions at the AEF focused on strengthening the continent’s energy landscape and attracting more investment to fuel economic growth.
