Ghana Needs $562 Billion to Achieve Net-Zero Energy Transition by 2070
Ghana will require an estimated $562 billion to fully implement its Energy Transition Framework by 2070, the year the country aims to completely shift from fossil-based energy to a net-zero carbon system in line with global climate goals.
According to Dr. Robert Sogbadji, Deputy Director of Nuclear and Alternative Energy at the Ministry of Energy and Green Transition, the required financing will come from a combination of domestic resources, private sector investment, and development partner support.
Speaking at a capacity-building workshop for editors and senior journalists in Accra on Wednesday, Dr. Sogbadji said Ghana’s transition to clean energy is expected to create about 1.4 million new jobs through emerging technologies such as Carbon Capture Utilisation and Storage (CCUS), nuclear energy, hydrogen, and electric vehicle (EV) charging infrastructure.
He also highlighted that the adoption of clean cooking fuels could save 30 million productive hours, significantly improving the lives of women and children who often rely on firewood for cooking.
The workshop, themed “The Energy Transition and its Implications for Ghana,” was organised by the International Perspective for Policy and Governance (IPPG) to strengthen journalists’ understanding of the global and national dynamics of energy transition.
Dr. Sogbadji described the transition as a “double-edged sword”, noting that while it offers immense benefits such as job creation, technological advancement, improved air quality, and affordable renewable energy, it could also lead to job losses in the fossil fuel sector.
He cautioned against a rushed transition, stressing that Ghana’s fragile economy requires a carefully managed and inclusive approach to minimise risks.
Dr. Sogbadji further urged the inclusion of energy transition education in school curricula to prepare the next generation for the emerging opportunities in the green economy.
Seth Owusu-Mante, a Senior Research Fellow in Climate and Energy at IPPG, emphasised that successful energy transition requires massive investment in modernising power grids, expanding transmission lines, and developing hydrogen and EV infrastructure.
He noted that many developing countries, including Ghana, face technical and system limitations that hinder large-scale renewable energy integration, calling for strong policy direction, public-private partnerships, and international financial support to close the gap.
Dr. Eric Agyemang, Policy Analyst at IPPG, said the training aimed to empower journalists with tools for evidence-based reporting that can inform the public, scrutinise policy commitments, and hold leaders accountable.
Other speakers included Yaw Appiah Lartey, Africa Head of Infrastructure at Deloitte & Touche, who presented on global financing for energy transition, and Charles Ofori, Policy Lead for Climate Change and Energy Transition at ACEP, who spoke on aligning Ghana’s oil and gas production with its climate and energy goals.