Ghana’s Energy and Green Transition Minister, Dr. John Abdulai Jinapor, has urged state-owned Volta River Authority (VRA), the country’s largest power generation company, to anchor its profitability on operational efficiency.
The Director of Power at the Ministry, Ing. Suleman Abubakar, speaking on behalf of the minister at VRA’s annual general meeting on Thursday, said the authority’s reported GHS88 million profit after tax in 2025 was driven mainly by the appreciation of the cedi, despite a 7% decline in energy sales.
He praised VRA and GRIDCo engineers for restoring all six generating units at Akosombo within days of the April fire at the Switchyard Control Building.
He disclosed that the government had paid US$1.47 billion to clear legacy power sector debts, renegotiated agreements with independent power producers (IPPs) and reformed the Cash Waterfall Mechanism to ensure full payment for power generated.
He, however, described VRA’s trade receivables of more than GH¢13 billion as too high, assuring the authority that the Ministry of Energy and Green Transition, the Ministry of Finance, the Public Utilities Regulatory Commission (PURC) and power distributors would work together to ensure it was paid in full and on time.
He urged VRA to fast-track Phase 2 of the Aboadze Thermal Plant, the repurposing of T3, solar projects at Pwalugu and Kpong, and its 2,000 MW renewable energy master plan.
He said VRA was expected to take a leading role as the government pursued plans for 1,000 MW of new thermal capacity and nuclear power.
VRA is projecting electricity generation of 13,044 GWh and a net profit of GH¢187 million for 2026.
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