The Volta River Authority (VRA) has unveiled an ambitious five-year plan to increase Ghana’s power generation capacity by up to 1,800 megawatts, reinforcing its pivotal role in the nation’s energy landscape.
The announcement was made at the VRA’s 15th Annual Stakeholders Meeting held in Accra, where Board Chair, Mr. Jabesh Amissah-Arthur, outlined the roadmap for sustainable energy growth.
He revealed that earlier policy restrictions designed to boost private participation had curtailed VRA’s expansion, leaving the Authority responsible for just half of Ghana’s total electricity output.
With renewed operational freedom, VRA now aims to meet surging domestic power demand while continuing to support regional energy exports across West Africa.
Mr. Amissah-Arthur emphasized that Ghana must add roughly 350 megawatts of capacity each year, and VRA plans to deliver between 1,600 and 1,800 megawatts within the next five years.
He also cited a GH¢106 million loss, largely caused by exchange rate fluctuations and the reallocation of export power for domestic needs without proper reimbursement.
Addressing financial governance, SIGA Director-General, Prof. Michael Kpessa-Whyte, announced that the government is drafting Dividend Policy Guidelines to ensure state enterprises remain profitable and contribute fairly to the national budget.
Deputy Minister for Energy and Green Transition, Mr. Richard Gyan Mensah, lauded VRA’s resilience, noting a 17.12% revenue growth from GH¢7.93 billion in 2023 to GH¢9.29 billion in 2024.
He encouraged closer collaboration between stakeholders to sustain profitability and ensure stable energy delivery nationwide.
The stakeholder meeting drew representatives from major institutions, including the Energy Commission, ECG, Ghana Grid Company, and the Public Utilities Regulatory Commission, marking a united effort to enhance transparency, efficiency, and accountability within Ghana’s energy sector.