Ghana aims to establish a 1 GW nuclear plant by 2030 to diversify the electricity system. The government sees nuclear energy as vital for decarbonisation, enhancing energy security and potentially generating electricity export revenue. Financing new nuclear investment is challenging for any country. Ghana has been negotiating with several vendor countries, but increased geopolitical risks and the county’s financial situation will substantially affect the costs and risks of Ghana’s nuclear plans. Ghana faces some technical challenges in its nuclear journey, including grid capacity limitations and uncertainties around which nuclear technologies to adopt. It will be essential for Ghana to continue developing its institutional capacity by establishing robust institutional frameworks for nuclear regulation and partnerships with a wide range of stakeholders. Since nuclear investment is subject to high risks and long timescales, the Ghanaian government should pursue a diverse investment strategy that also supports renewable energy technologies.
Milne et al. (Tue,) studied this question.