The Volta River Authority is expected to redirect its focus and business strategy to meet the change in environment and consumer expectations, Chief Executive of the institution has revealed.
According to Mr. Emmanuel Antwi-Darkwa, an introduction of a new policy in the power sector by the Akufo-Addo government states that the Volta River authority must be reconstituted into a holding company with three main subsidiaries and run along commercial lines.
The subsidiaries include a Hydro, Thermal and Investment subsidiaries.
He explained that the Hydro subsidiary will regulate all the hydro assets or properties such as the Akosombo and Kpong Dams while expanding them in order to do more hydro projects. The second, being the Thermal subsidiary, will house the thermal assets across the country and also expand them with the assistance of the private sector. The institution’s Investments, the third of the subsidiaries will collate the schools, hotels, hospitals, real estate and all the business ventures.
Mr. Antwi-Darkwa was speaking about the new outlook of the Volta River Authority as the way forward to mark the companies 57th Anniversary. “..the steer or the directive that we have from government, you know it’s a new government policy in the power sector, is that we should reconstitute ourselves from what we are right now into a holding company with three main subsidiaries” he stated.
The Energy Ministry led by Mr. Boakye Agyarko recently introduced a draft national energy policy.
“The draft National Energy Policy looks at the energy situation in its present form and where we want to go in the near future taking into account our medium-term development goals as well as the UN Sustainable Development Goals (SDGs) all of which energy are the key driver.
The draft policy was presented to the key stakeholders to solicit for comments and inputs to refine the document for the final draft to be submitted to Cabinet” he stated.
In an effort to defray the debts of the energy institution, government has introduced new strategies in order to help the VRA better serve consumers while meeting the demands of the changing environment.
