Ghana needs about $562 billion for energy transition for sustainable development by 2070
The Deputy Director, Power in Charge of Nuclear and Alternative Energy, Dr. Robert Sogbadji, at the Ministry of Energy has disclosed that Ghana needs about US$562 billion for its energy transition for sustainable development by the year 2070 in the long term.
According to him, Ghana requires estimated financing to the tune of US$562 billion in a long-term framework between the years 2022 – 2070 and by 2030 Ghana needs to achieve universal access to electricity at about 99.8% in the community of developing nations.
He said for Ghana to achieve a just and equitable transition both in universal access to electricity and the exploitation of the natural resources will not only support the country’s economic development but “new job opportunities to be created in an estimation of about 1,404,702 due to the introduction of new technologies such as CCUS, Nuclear, Hydrogen, EV charging stations”.
Dr. Robert Sogbadji also said that due to the fuel switch, as expected, Ghana will meet its future electricity demand of about 380,000 GWh (83GW install capacity).
Presenting a paper on the topic: Ghana’s Energy Transition Pathway for Sustainable Development at the 2024,19th Biennial Workshop by the Ghana Science Association on the theme: Innovative, Affordable and Sustainable Energy Supply in Ghana for the 4th Industrial Revolution at Sunyani in the Bono Region, Dr. Sogbadji submitted that Ghana’s Energy Transition when completed will guarantee the best fuel supply security as a result of a diversified fuel mix including natural gas and nuclear energy where an estimated 200MtCO2-eq emission (T1 emission – 14.5MtCO2-eq) can be avoided.
The completion of the project will also help to minimise energy-related indoor air pollution and its related illnesses – 48,218 premature deaths avoided due to improvement in air quality and health and “30.05 million productive hours gained due to the upscaled adoption of clean cooking fuels. This would have a significant impact on women and children, who are the main gatherers of firewood”, with access to and commercialisation of the green trade market (21GW of installed capacity) where lower long-term cost of electricity generation—below 4.5cents/kWh will be attained.
In short to medium-term plans & achievements under Ghana’s energy transition project, Robert Sogbadji Ghana will be collaborating with the Development Partners and ECOWAS to produce Green Hydrogen as clean fuel, which will be backed by regulation on road transportation of CNG to commence the implementation of CNG as substitute fuel for liquid fuel in public transportation.
He proceeded to mention other deliberate policies being pursued by the state in the areas of tax waivers on the importation of Electric Vehicles development of national electric vehicle policy, and the state is “aggressively increasing Renewable Energy Penetration through SREP and NET-METERING programme”. The dialogue for introduction of Bioethanol as fuel blend has commenced with the NPA and its stakeholders.
Nuclear energy is expected to be the new base-load energy to support industrialisation and make Ghana an electricity export significant in the West African Power Pool.
source: GBC
