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Government introduces Renewable Energy and Green Transition Fund to finance low carbon projects

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By: Mabel Adorkor Annang

To accelerate Ghana’s energy transition agenda, government has introduced a new Renewable Energy and Green Transition Fund.At the ‘Future of Energy’ Conference 2025 in Accra, Minister for Energy and Green Transition, John Jinapor, said the initiative is expected to play a crucial role in supporting Ghana’s shift towards sustainable energy by providing financial backing for renewable energy and green transition projects.

Mr. Jinapor, outlined initiatives Ghana has taken to promote a sustainable energy future which aligns with national and global climate goals.

He said “an energy transition framework to decarbonize our power and petroleum sector while maintaining energy security is underway. This includes scaling up renewables, clean cooking solutions and green hydrogen studies. A renewable energy and green transition fund designed to mobilise capital for low carbon infrastructure and innovation has been launched and so far, I can confidently say that we have been able to mobilise some very good resources. The issue of EV vehicles is being factored in this as well”.

The Executive Director of the Africa Center for Energy Policy, ACEP, Ben Boakye, was concerned about the future of fuel stations as the adoption of electric vehicles, EVs gains momentum across Africa.

Executive Director of the Africa Center for Energy Policy, ACEP, Ben Boakye.

He said, “20 years ago, many were still arguing whether electrification truly poses a threat to the fossil fuel industry. Today, the evidence is undeniable. EV adaption is accelerating, efficiency data is robust and the shift is real. Imagine this, in some of our countries, a single filling station can accommodate 50 cars at once. Will these stations become relics stranded as museums for the next generation? These are the important questions we need to ask ourselves and they demand clear and thoughtful answers from us”.

Special Adviser to the Nigerian President on NEC and Climate Change, Rukaiya El Rufai urged other African countries to follow Ghana’s initiatives.

“Africa must realise the nature of this unstoppable transition in play and governments must romp up investments in clean energy. I am happy to hear about Ghana’s green energy fund. Other African countries must follow suit”, she added. 

Special Adviser to the Nigerian President on NEC and Climate Change, Rukaiya El Rufai

The Future of Energy Conference, FEC 2025 organised by the Africa Centre for Energy Policy, ACEP was on the theme, “Financing Africa’s Energy Future: Unlocking Investments For Energy Access and Economic Transformation”.

The Conference underscored the vital role of global dialogue and collaboration in addressing both the pressing challenges and emerging opportunities within Africa’s energy landscape.

The Conference highlighted Africa’s opportunity to accelerate global clean energy progress and foster actionable strategies to mobilize investment, strengthen regional integration, and drive sustainable transformation across the continent.

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