Ghana Requires $562bn for Energy Transition by 2070 - Energy Ministry

Accra, Ghana - 22 May, 2025 - Ghana is set to embark on an ambitious energy transition plan, with a staggering estimated cost of $562 billion required to achieve its goals by 2070.

The country is finalizing plans for a nuclear power project, with construction expected to begin by 2027. 

According to the Ministry for Energy and Green Transition, Ghana has made significant progress in its renewable energy initiatives, including the development of solar mini-grids for island communities.

The Ministry's Deputy Director for Renewables and Green Emerging Technologies, Dr. Robert Sogbadji, highlighted the importance of a nationwide approach to energy transition, emphasizing the need for awareness and collaboration among all stakeholders.

He noted that the $562 billion required would come from a combination of government funding, private sector investment, development partners, and multinational development banks.

According to him, the energy transition framework aims to increase access to electricity, with the country currently boasting an impressive 89% access rate. He disclosed that the development of 33 new solar mini-grids and other renewable initiatives are part of the country's efforts to transition to a more sustainable energy mix. 

“As of now, Ghana is putting all efforts into adhering to our energy transition framework. Currently, we have more than 89% access to electricity. Energy transition is supposed to be nationwide and implemented by all regions and District Chief Executives. So, efforts have to be made to ensure that awareness is created to ensure that whatever activity or project they undergo, they also take into consideration the energy transition.

“We need about $562 billion to complete this energy transition by 2070. It’s not only the government that has to cough up this money. It includes- private sector, development partners, multi-national development banks to bring in money to make sure that we transition smoothly,” Dr. Robert Sogbadji said.

The nuclear power project is expected to play a significant role in Ghana's energy future, providing a cleaner and more reliable source of electricity.

Source: Lead News Online