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Turkish energy firm Aksa Enerji is expanding in Ghana with an 825-megawatt gas-fired plant in Takoradi, after signing a 20-year, dollar-denominated power deal with the Electricity Company of Ghana.
The agreement covers the construction and operation of the facility, as well as electricity generation and guaranteed power sales over the contract period, the company disclosed on Monday.
The new plant will be built in Takoradi, one of Ghana's main industrial centers, and, together with the Kumasi project, will lift Aksa Enerji's installed capacity in Ghana to 1,545 MW.
The Takoradi facility builds on the company's existing investments in Tema and Kumasi, where the first phase of a gas-fired power plant recently entered operation.
The expansion will also increase Aksa Enerji's total installed capacity across Africa to 2,240 MW, including operations in Senegal, Gabon and Burkina Faso. The company currently operates 14 power plants in eight countries with installed capacity exceeding 3,500 MW.
Chief Executive Officer and Executive Board Chairman Naci Agbal said the Takoradi investment marks another milestone in the company's long-term growth strategy in Africa.
"We see Ghana not only as a market where we operate, but as a long-term strategic partner," Agbal said. "Through this investment, we are contributing to the country's energy security while supporting our sustainable global growth and leadership vision across Africa."
Aksa Enerji reported ₺10 billion ($209.3 million) in revenue for the first quarter of 2026, down from ₺12.6 billion a year earlier.
Despite lower sales, the company's net profit attributable to shareholders rose 8% to ₺564.9 million, while its EBITDA margin improved to 33% from 29%, supported by newly commissioned power plants.
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