Board Chair, Mr Jabesh Amissah-Arthur, said policy restrictions introduced in the early 2000s to encourage private sector participation had limited VRA’s expansion, leaving it responsible for only about 50 per cent of the country’s power supply.

Speaking at the Authority’s 15th Annual Stakeholders Meeting in Accra, he said the VRA now had the freedom to expand generation and would focus on meeting rising domestic demand while maintaining its export commitments.

“The country needs to add around 350 megawatts annually, and over the next five years, we aim to contribute between 1,600 and 1,800 megawatts,” he explained.

Mr Amissah-Arthur attributed the Authority’s GH¢106 million loss to exchange rate fluctuations and the diversion of high-value export power to domestic consumption without adequate compensation.

Director-General of the State Interests and Governance Authority (SIGA), Prof. Michael Kpessa-Whyte, said government was working on Draft Dividend Policy Guidelines to ensure State-Owned Enterprises operate profitably and remit fair dividends to the State.

Deputy Minister for Energy and Green Transition, Mr Richard Gyan Mensah, commended VRA’s growth, highlighting a 17.12 per cent revenue increase from GH¢7.93 billion in 2023 to GH¢9.29 billion in 2024, and urged stronger collaboration with stakeholders to restore full profitability.

The meeting brought together key players, including the Public Utilities Regulatory Commission, ECG, Energy Commission, and Ghana Grid Company, to assess VRA’s performance and accountability.