Kofi Dzamesi (M), with some board members, directors and stakeholders
Bui Power Authority (BPA) has recorded a 97% profit after tax of $79,218,134 in 2022 marking an increase from $40,220,491 recorded in 2021.
Speaking at its 2nd AGM for 2022 year under review, at its headquarters in Accra the Chief Executive of Bui Power Authority, Samuel Kofi Dzamesi, said the Authority also achieved a 44% increase in revenue recording $158,802,301 compared to $110,290,403 recorded in 2021.
“Bui Power Authority (BPA) achieved an annual electricity generation record of 1,547 GWL marking the highest since the commencement of commercial operations.
This resulted in a 50.48% increase in net evacuation to the national integrated Transmission System. The increased generation boosted BPA’s revenues by 44% from $48.5 million to $158.8 million in 2022,” he said.
According to the CEO, the significant financial growth and the surge in revenue was attributed to favourable inflow the Bui reservoir, heightened power demand and effective cost control measures by management.
He said the Authority has also commenced procurement processes to harness hydro potential at the Tano, Pra and Ankobra.
He indicated that a consultant has therefore been engaged to undertake feasibility studies in the rivers to improve the database for an informed decision on the best technology to deploy and the generation capacities that could be derived from the rivers.
“Overall, BPA’s achievements in 2022 underscores its dedication to its core mandate of developing hydro sites through energy generation, the development of renewable and clean energy, labour and community relations as well as climate mitigation,” she added
Dr. Mrs. Rebecca Acquaah-Arhin in a statement on behalf of the Board chairman, Kwesi Ameyaw Cheremeh, said as part of its renewable energy development, the Authority in 2022, expanded its solar energy agenda by acquiring sites at Yemdi and Buipe for solar energy development.
She said besides solar, the Authority also explored the possibility of generating wind energy on to the national grid.
She stated that for that to be achieved, the BPA engaged the Ghana Ports and Harbours Authority to pilot a 3.6 Mega Watts wind power plant at the Tema port enclave with the objective of guiding the Authority to develop wind power in the country.
By Ebenezer K. Amponsah