Ghana has unveiled fresh investment opportunities worth $3.4 billion in its renewable energy sector as part of efforts to transition into a low-carbon economy by 2030.
Under the government’s Energy Transition Framework, the country plans to add 400 megawatts of renewable energy capacity within five years, supported by both public and private sector funding.
The planned investments include, utility-scale solar, wind, and landfill gas projects, 1.5 million clean cook-stoves for households, expansion of solar street lighting from 100 km to 400 km of road networks, and 400 solar-powered irrigation schemes, covering about 400,000 hectares of farmland.
“These initiatives will help raise the share of renewables in Ghana’s generation mix from seven percent to 15 percent by 2030, while creating thousands of green jobs,” Mr Seth Mahu, Director in charge of Renewable Energy at the Ministry of Energy and Green Transition said at the vital Business-to-Business seminar under the Water–Energy–Food Nexus Project.
The gathering, organised by South Korea and Ghana sought to build partnerships, exchanging expertise and fostering innovation to solve urgent challenges in climate change, food security and sustainable energy access.
Companies from Korea took turns to make presentations on solutions, including, thermal drones’ solutions for predictive management of solar energy facilities, solar monitoring solution for Ghana’s energy transition, upland farming mechanisation with multi-purpose and off-grid renewable energy power system technology.
Mr Mahu said Ghana was positioning itself as a regional hub for clean technology production and distribution under the African Continental Free Trade Area (AfCFTA).
Businesses that establish in Ghana, he stated, would not only serve the domestic market but also have access to a continental market of more than one billion people.
Mr Mahu said the country’s electrification was above 85 percent, stressing that renewable energy expansion would ensure both energy security and climate resilience, while driving down food inflation through solar-powered irrigation for agriculture.
According to him 98 percent of urban areas are connected to the national grid, while rural electrification stands at 71 percent and growing rapidly.
Mr Mahu noted that the government had set a target of 99.98 per cent access by 2030, positioning Ghana second only to South Africa in electricity coverage on the continent.
“This progress means that regardless of where businesses are located, they will have reliable access to electricity to run their investments,” an official said, describing it as a unique advantage for investors.
By Albert Oppong-Ansah
GNA
