The correct answer to the question is option 3 - Ghana. The Volta River Project is a water and electricity project located in Ghana. It is one of the largest development projects in Ghana`s history. The project was initiated in the 1960s and involved the construction of the Akosombo Dam on the Volta River.

The Akosombo Dam is a hydroelectric dam that generates electricity for Ghana and neighboring countries. It has a total installed capacity of 1,020 megawatts and plays a crucial role in Ghana`s efforts to meet its growing energy needs.

In addition to electricity generation, the Volta River Project also created Lake Volta, which is the largest man-made lake in the world by surface area. Lake Volta serves as a water supply for irrigation, fishing, and transportation purposes.

Therefore, it is clear that the correct location of the Volta River Project is in Ghana.