Providing renewable energy solutions in Ghana : Overview of the business environment in Ghana regarding some selected renewable energy sources

Abstract

This thesis was prepared as part of the CONNECT project embarked on by Laurea University of Applied sciences, other Universities of Applied Sciences and other stakeholders in partial fulfillment of a bachelor’s degree in business management. The main purpose of the CONNECT project is to enhance growth and speed up the internationalization within developing country markets of Finnish Small and Medium scale Enterprises (SMEs) renewable energy companies. The main research question addressed is whether Finnish renewable energy companies should invest in Ghana or not. On this premise, the business environment of Ghana was analyzed using the PESTEL framework.

The purpose of the study is to determine the most feasible way to enter into the Ghanaian renewable energy market, to identify which renewable energy solutions would present a better opportunity and to conduct networking activity with relevant Ministries, Departments and Agencies (MDAs) of Energy (renewable energy industry) in Ghana.

The research methodology used in this thesis is qualitative research. A questionnaire was administered to solicit information from the renewable sector of the Ministry of Energy in Ghana. The questions contained in the questionnaires were mostly unstructured. In addition, transcripts of interview with the minister for energy and the Chairman of Ghana Energy Commission were used in the analytical section of the thesis. This was considered appropriate because this is the ministry in charge of renewable energy issues in Ghana and the interview transcripts relates to the main interest of the Connect project.

The results obtained from the study are that the business environment in Ghana is viable for investment, especially in the renewable energy sector where Ghana has abundant resources but competition in the industry is low. Also, solar energy, wind energy, waste-to-energy solutions have a higher likelihood of success in Ghana.