multi-billion investments

Ghana: Can the private sector deliver the renewable energy dream?

By Jonas Nyabor

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Posted on April 20, 2023 09:59

© Ghana’s President Nana Akufo-Addo addresses the Investing in African Mining Indaba conference in Cape Town, South Africa February 5, 2019. REUTERS — Ghana’s President Nana Akufo-Addo addresses the Investing in African Mining Indaba conference in Cape Town, South Africa February 5, 2019. REUTERS

In the face of the global energy transition and rising demand for renewable sources, Ghana is raising $562bn in investments over the next five decades to decarbonise its energy sector through major projects. Analysts say this campaign will be successful only if the government woos the private sector with a favourable fiscal regime.

At COP27 in Egypt last year, President Nana Akufo-Addo made a strong case for renewable energy in Africa. He gave assurances of increasing the share of clean sources in Ghana’s energy mix as part of the broader national framework for a transition to environmentally friendly power generation.

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