Ghana will continue to increase the share of renewable energy in our electricity generation mix, as well as explore the options of hydrogen gas and other clean energy sources to meet our energy needs.
Energy transition has become a global responsibility for us all, especially in view of the impact of climate change, and the global energy crisis brought forth by the Russian invasion of Ukraine.
With Ghana being a signatory to the Paris Agreement and other international conventions, which require the country to reduce her carbon dioxide emission levels, he indicated that it has become imperative for Ghana to develop plans and strategies toward the creation of a net-zero energy sector, whilst aggressively pursuing the nation’s economic development.
Ghana’s position on energy transition is to continue the responsible exploitation of our natural resources for our development and transition at our own pace.
The Government of Ghana to develop an Energy Transition Framework that will guide the country, as the entire world moves towards realizing net zero.
The Government of Ghana, being mindful of the implications of such a framework and its implementation on the entire economy, directed the Committee to undertake extensive stakeholder consultations, in addition to expert input, to produce the National Energy Transition Framework to guide its transition to a net-zero economy by 2070 in a just and equitable manner, as well as minimize possible stranded assets and job losses in the oil and gas sector.
Wide stakeholder consultations were held to ensure that the energy transition issues in various parts of the country were captured and addressed in the framework. These included organized and non-organized labour, market women, academia, Ministries, Departments and Agencies (MDAS), Metropolitan, Municipal and District Assemblies (MMDAs), Development Partners (DPs) and the international community.
Ghana aims to achieve universal access by 2024. The Energy Transition Framework will meet future electricity demand of 380 Terawatt-hours, with a corresponding installed capacity of 83 Gigawatts. Ghana’s diversified energy mix will include 21 Gigawatts of renewable energy installed capacity, which will provide the opportunity to enjoy a greater share in the renewable energy carbon credit market.