PROVIDING RENEWABLE ENERGY SOLUTIONS
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PROVIDING RENEWABLE ENERGY SOLUTIONS
ABSTRACT
This thesis was created as part of the CONNECT project, which was undertaken by Laurea University of Applied Sciences, other Universities of Applied Sciences, and other stakeholders in partial fulfilment of a bachelor’s degree in business administration.
The CONNECT project’s primary goal is to accelerate the expansion and internationalisation of Finnish Small and Medium-sized Enterprises (SMEs) in renewable energy markets in developing countries.
The primary research topic is whether Finnish renewable energy businesses should invest in Ghana or not. Based on this premise, the PESTEL framework was used to analyse Ghana’s business climate.
The study’s goal is to determine the most feasible way to enter the Ghanaian renewable energy market, to identify which renewable energy solutions would provide a better opportunity, and to network with relevant Ministries, Departments, and Agencies (MDAs) of Energy (renewable energy industry) in Ghana.
The research methodology used in this thesis is qualitative. A questionnaire was distributed to the renewable sector of Ghana’s Ministry of Energy. The questions on the questionnaires were primarily unstructured.
In addition, transcripts of interviews with the Minister of Energy and the Chairman of the Ghana Energy Commission were used in the thesis’ analytical portion.
This was deemed appropriate because this is Ghana’s ministry in charge of renewable energy concerns, and the interview transcripts are relevant to the Connect project’s primary focus.
According to the study’s findings, Ghana’s economic environment is conducive to investment, particularly in the renewable energy sector, where Ghana has rich resources but minimal industrial competitiveness. Additionally, solar energy, wind energy, and waste-to-energy technologies have a better chance of success in Ghana.
Introduction
Energy is perhaps one of the most important global economic drivers. However, when the harm caused by fossil fuels to human, environmental, and ecosystem health begins to outweigh the advantages, a shift in focus is required.
This has led in a shift in focus to renewable energy, with countries such as the European Union, the United States, China, and others leading the way in renewable energy solutions.
Africa, despite its vast potential for renewable energy resources such as solar, wind, waste-to-energy, geothermal, hydro, and others, is still falling behind in renewable energy solutions.
This thesis aims to focus on renewable energy solutions in Ghana by first determining the state of the Ghanaian business climate and which renewable energy solutions are most likely to succeed in Ghana.
The next sections will analyse Ghana’s business environment using the PESTEL (Political, Economic, Socio-Cultural, Technological, Environmental, and Legal) framework, as well as highlight Ghana’s energy condition.
1.1The Background of the study
This thesis was created for the CONNECT project at Laurea University of Applied Sciences. The link initiative aims to provide growth and assist the internationalisation efforts of Finnish small and medium-sized enterprises (SMEs) into emerging country markets.
This thesis was based on a questionnaire distributed to Ghana’s Ministry of Energy’s Renewable Energy Directorate, as well as interview transcripts from important ministry officials.
The questionnaire’s primary goal is to gather credible information from the main ministry in order to support the CONNECT project’s research process.
1.2 The Aim and Target
The purpose of this thesis is to contribute to the CONNECT project’s research efforts. Ghana is one of the target nations for Finnish SMEs, hence this thesis is primarily about Finnish renewable energy enterprises interested in delivering renewable energy solutions in Ghana.
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