Ghana needs almost US $10billion to set up nuclear power plant - Owuraku Aidoo

The Deputy Minister for Energy in-charge of Power, William Owuraku Aidoo, has revealed that it will require Ghana between US$8billion and US$10billion to be able to set up a nuclear power plant in the country.

He explained that due to the huge funds involved, Government of Ghana is, therefore, discussing with the Government of Russia, China and Korea to support Ghana financially, when it passes all the International Atomic Energy Agency's criteria for the setting up of the nuclear power plant.

"We're in talks with Russia, China and Korea so that they can assist us to build the nuclear power plant when the time comes. We don't want to wait to the stage where we're given the green light before we start looking for money because the money is huge," he said.

Owuraku Aidoo disclosed this in an interview with Oman FM's Michael Creg Afful, when he paid a working visit to the Ghana Atomic Energy Commission to inspect the progress of work done by GAEC towards Ghana's efforts in exploring the possibility of generating nuclear energy by 2029.

The Deputy Minister and his entourage were briefed by the Director of GAEC Prof. Benjamin J.B Nyarko about the progress of work done so far.

It is expected that the nuclear power plant would give Ghana about 1000 megawatts of power.

Nuclear power is said to be cheaper than the traditional sources of energy such as hydro, thermal and renewables.

Owuraku Aidoo indicated that part of the power would be exported to either China, Korea or Russia to settle the monies it would secure from them.

Ghana has successfully passed the first phase of the three criteria instituted by the International Atomic Energy Agency (IAEA), which certifies any country to establish nuclear power plant.

This led to the development of its nuclear power infrastructure since the establishment of the Nuclear Power Programme Organisation (GNPPO).

The GNPPO has established effective mechanisms to involve a wide range of national stakeholders in undertaking relevant activities.

The activities of the GNPPO resulted in the Integrated Nuclear Infrastructure Review mission in 2017.

Director of GAEC, Prof Benjamin Nyarko, who was happy about the progress of work so far, said his outfit was looking at a location that would be favourable for the setting up of the plant.