Ghana aims to achieve at least 1,400 megawatts (MW) of installed renewable energy capacity by 2030. This target represents a five-fold increase from the current 280MW of installed renewable energy capacity. The initiative seeks to reduce energy costs, improve industrial competitiveness, and accelerate Ghana’s transition to sustainable energy.
The Ministry of Energy and Green Transition leads this ambitious plan. Pipeline projects are already in motion, expected to add nearly 600MW by 2028. This expansion directly addresses the high electricity costs faced by Ghanaian businesses, which pay between GHS 1.90 and GHS 2 per kilowatt-hour for electricity. Lowering energy expenses is crucial for businesses to thrive and compete globally.
This push for renewable energy aligns with Ghana's broader economic and industrial transformation agenda. Stable and affordable energy is vital for sustained business growth and export competitiveness. The government is implementing various policies and interventions to provide cheaper, cleaner, and more sustainable power. These efforts aim to support Ghana's ambition of building a strong industrial economy and sustaining a 24-hour economy.
John Abdulai Jinapor, the sector minister, emphasized the importance of affordable and reliable energy. He spoke at the AGI Sustainable Energy B2B Expo in Accra. He stated that sustainable energy is central to Ghana’s industrial transformation agenda.
Among the key initiatives is the net metering programme. This program helps reduce electricity costs for industries, businesses, and households. It also improves environmental sustainability standards for exporters facing strict international trade requirements. Additionally, investments in captive renewable energy projects are progressing, like a 16MW solar installation at the Tema enclave. Plans are approved for this project to scale up to 200MW, with a long-term goal of 1,000MW by 2030.
The Ministry is also accelerating efforts to promote electric mobility. The Renewable Energy Fund will support electric vehicle charging infrastructure across the country. This infrastructure will run on renewable energy. Other interventions include the Public Facilities Sustainable Energy Action Plan and the National Energy Efficiency Action Plan. These plans improve energy efficiency in public institutions and free up power for industrial use. Solar-powered irrigation initiatives are also rolling out to support year-round farming and boost agricultural productivity.
Kofi Nsiah-Poku, President of the Association of Ghana Industries (AGI), urged accelerated investment in renewable energy. He warned that rising energy costs and unreliable power supply undermine industrial growth. Mr. Nsiah-Poku highlighted that industries are under increasing pressure to cut operational costs and meet international environmental standards. He stressed that transitioning to cleaner energy is both an economic and strategic necessity. Adopting smarter and more efficient energy solutions will help businesses improve productivity, lower long-term costs, and strengthen their competitiveness in global markets. Renewable energy, especially solar power, offers significant opportunities for Ghanaian industry to support administrative operations, cooling systems, lighting, and light industrial processes. This diversified energy mix will reduce pressure on the national grid, enhance energy security, and contribute to a more resilient industrial sector.
The successful implementation of these plans could lead to lower production costs for industries. This would make Ghanaian products more competitive internationally. It could also reduce the country's reliance on fossil fuels, contributing to a cleaner environment. The strengthening of the national grid remains essential to integrate this new renewable energy capacity effectively. Businesses are encouraged to combine renewable energy systems with battery storage technologies for stable power beyond daylight hours. This comprehensive approach aims to secure Ghana's energy future and bolster its economy.