VRA management commended for making the Authority profitable


Accra, Dec. 14, GNA-Dr Matthew Opoku Prempeh, the Minister for Energy, has applauded management of the Volta River Authority (VRA) for turning around the fortunes of the firm making it profitable.


“In the time of COVID-19 when businesses were ailing, with some collapsing, or laying off workers, you ended up with your best performance. I commend the proactive adoption of technology in your business process and operations…” he said at an annual stakeholders’ meeting in Accra.


He noted that the Management and the Board had taken the necessary steps to transform the Authority, which was indebted six years ago to one that was making gains of an annual revenue of about 700 million dollars.


Dr Prempeh in a statement, delivered on his behalf, was also full of praise for the staff for demonstrating resilience and excellence leading to the remarkable performance.


The Minister urged the Authority to leverage on its existing relationship to expand the exportation of the excess power to generate more forex revenue for the country while addressing the challenge of excess capacity charges.


Mr Emmanuel Antwi-Darkwa, the Chief Executive Officer of VRA, said the Authority between the years 2012 to 2016, was highly indebted to the tune of 1,320 million Ghana Cedis (GHS).


The VRA, he said, had paid off and had become a resilient, sustainable, and growing multi-business holding company.


On the strategies used to achieve the monumental successes, he explained that attention was given to the building, nurture, and development of its human capital, where the staff were among other things, motivated to work hard towards the achievement of their set targets.


The Authority also digitised its operations to ensure efficiency in both internal and business processes.


Mr Antwi-Darkwa explained that through its strategy, the VRA had improved its operational and project implementation efficiencies, by ensuring development in a sustainable manner, thereby, sustaining its position as the market leader.


He said among VRA’s sustainability plan for the ensuing years, included inculcating private sector mindset in public service delivery, improving operational efficiency through prevention of avoidable plant outages, and increasing cash flows through innovative billing and debt collection.


Other plans include increasing the Company’s renewable footprints to ensure a green economy, improving staff competencies and effectiveness, enhancing strategic alliances and relationships.


He called for the support of all stakeholders to achieve the President’s agenda of a “Ghana beyond Aid,” and the Sustainable Development Goals.


Mr Kofi Tutu Agyare, the Board Chairman of VRA said the Company the achievement was also due to ensuring the adherence to best practice and strict maintenance culture.


“The objective as always, is to guarantee the availability of our generating plants and ensure optimum operation. VRA ended the year strongly, owing to the commitment of the staff of the Thermal Generation SBU, who ensured TTPS-T1 operated fully on combined cycle during the fourth quarter of the year,” he said.


Mr Agyare said during the year under review, the Management kept to its decision to power the Authority’s thermal facilities exclusively on natural gas and in line with that commitment, the Authority maintained a no Light Crude Oilcombustion during the period.


He said a total of 33,606,084 MMBtu of Natural Gas was utilised during the year, representing a decline of 11.53 per cent (4,380,364MMBtu) compared to the 37,986,448.40MMBtu utilised in 2019.


Mr Agyare said two key projects namely the Kpong Generating Station Retrofit Project at Akuse and the 6.5MWp Lawra Solar Power Project, in the Upper West Region, were completed and commissioned.


He stated that work at the 13MW Kaleo Solar Power Project was progressing satisfactorily, and that a key milestone was reached regarding the construction of the Pwalugu Multipurpose Dam Project.


Source: Ghana News Agency

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