Ghana: The AKSA Energy power plant in Ghana was utilised for merely 16% of its contracted capacity during its initial five-year period, resulting in the country paying for unused capacity, according to Executive Director of the Africa Centre for Energy Policy (ACEP), Benjamin Boakye.
According to Ghana Web, Boakye highlighted these issues while speaking on TV3's The Key Points on August 15, 2026. He indicated that such low utilisation raised serious questions about the value derived by Ghana from the agreement. Despite the plant's underutilisation, Ghana was obligated under the take-or-pay arrangement to cover the full capacity charge, leading to payments without equivalent use.
Boakye pointed out that data from the Energy Commission revealed the plant generated power for only 16% of its expected operational time, while Ghana continued to incur the cost of 100% capacity charges. He further remarked that the AKSA plant, being among the less efficient in the country's power fleet, was lower on the merit-order dispatch system. This system prioritises plants that generate more electricity from available fuel over less efficient ones.
Concerns were also raised regarding the plant's procurement cost and operational efficiency. The contracted tariff, which includes capacity and variable charges, was about 4.5 cents per kilowatt-hour, potentially leading Ghana to pay approximately $720 million over five years for the 370-megawatt facility. Boakye questioned the adequacy of the technical assessment conducted before the agreement, stressing that it should have been a crucial part of the decision-making process before the government's commitment.