Fri. 14 Feb, 2025 | Business: The Ministry of Energy and Green Transitions has reaffirmed its commitment to transitioning Ghana’s energy sector towards sustainability.

The Ministry is aiming to incorporate 21,000 megawatts of renewable power into the national energy mix by 2070.

This ambitious plan seeks to reduce energy costs and support the country’s clean energy goals, positioning Ghana for a greener, more cost-efficient future.

This commitment was highlighted during the ceremonial signing of a loan agreement between the International Finance Corporation (IFC) and LMI Holdings, which secured $100 million for the construction of a 1,000-megawatt solar plant.

The initial phase will focus on the first 150 megawatts, set to be completed in two stages.

Seth Mahu, Director for Renewable Energy at the Ministry of Energy and Green Transitions, emphasised the importance of such investments in driving Ghana’s energy transformation.

“We strongly believe that projects like this will lower energy costs, ensuring that Ghana remains competitive in global industrial production.The Ministry of Energy is committed to ensure that we are able to transition the energy sector to net zero by 2070. The ultimate goal for us is to be able to bring on board 21,000 megawatts of renewable energy within this time space,” he said.

He further assured stakeholders that the Ministry would support the integration of the project into the country’s energy networks, ensuring a seamless transmission of power.

In cases where the need arises, the Ministry is prepared to develop strategies to provide additional power to support customers beyond the immediate project area.

Dahlia Khalifa, Regional Director for Central Africa and Anglophone West Africa at the IFC, stressed the importance of sustainability in business.

“Sustainability is not just about the environment; it’s about creating jobs and uplifting livelihoods. This is a long-term strategy for growth,” she stated