The Minister for Energy, Dr Matthew Opoku Prempeh, has stated that Ghana’s Energy Transition and Investment Plan seeks to attract US$ 550 billion in capital investments to scale up renewable energy and introduce nuclear energy into the country’s energy mix.
He said this when he addressed investors during Ghana’s Energy Day at the Ghana Pavilion at the Conference of Parties (COP28) underway in Dubai, UAE.
The Energy Transition and Investment Plan (ETIP), he said, anticipates that the majority of the funding for the projects will come from the private sector.
He said the government would pursue policy reforms and provide a suitable environment to execute the energy transition projects.
“Investments are also needed for the deployment of electric vehicles to replace Internal Combustion Engines, the construction of electric and hydrogen fuel cell charging stations, the production of biofuels, biomass industrial boilers with electric boilers and the provision of energy-efficient electrical appliances for the residential and service sectors among others” he noted
According to Dr Prempeh, the realisation of the requisite capital would culminate in universal access to affordable and reliable power by 2024, economy-wide decarburisation, socio-economic development, about 400,000 new jobs, and above all net-zero emissions in the country by 2060
He invited all investors to partner with the Government of Ghana to undertake the projects in Ghana’s Energy Transition Framework to drive industrialisation and achieve our net-zero targets.
“As I said earlier, our doors are always open and I look forward to several partnerships,” he said.
Irene Wirekoaa Osei, ISD