Accra: 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.

According to Ghana News Agency, the planned investments include utility-scale solar, wind, and landfill gas projects, 1.5 million clean cookstoves 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 aim to 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, highlighted these plans at a Business-to-Business seminar under the Water-Energy-Food Nexus Project. The gathering, organized by South Korea and Ghana, sought to build partnerships, exchange expertise, and foster innovation to address challenges in climate change, food security, and sustainable energy access.

Companies from Korea presented solutions, including thermal drones for predictive management of solar energy facilities, solar monitoring solutions for Ghana’s energy transition, and off-grid renewable energy power system technology. Mr. Mahu emphasized Ghana’s positioning as a regional hub for clean technology production and distribution under the African Continental Free Trade Area (AfCFTA).

Businesses establishing in Ghana would not only serve the domestic market but also have access to a continental market of over one billion people. Mr. Mahu stated that the country’s electrification rate was above 85 percent, stressing that renewable energy expansion would ensure energy security and climate resilience, while reducing food inflation through solar-powered irrigation for agriculture.

Mr. Mahu noted that 98 percent of urban areas are connected to the national grid, while rural electrification stands at 71 percent and is growing rapidly. The government aims for 99.98 percent access by 2030, positioning Ghana second only to South Africa in electricity coverage on the continent. An official stated that this progress provides a unique advantage for investors, ensuring reliable access to electricity for business operations.