The Bui Power Authority (BPA) has announced a sharp rise in its net worth to $755.2 million in 2024, following what management described as a resilient and strategically focused year.
Presenting the 2024 Corporate Annual Report, CEO Ing. Kow Eduakwa Sam disclosed that BPA nearly doubled its profit target, recording a net profit of $64.5 million against a projection of $33.6 million.
This pushed the Authority’s net worth up by 9.2% compared to 2023.
However, Ing. Sam expressed concern over a surge in accounts receivable, which jumped from $346.6 million in 2023 to over $816 million in 2024, stressing the need for tighter monitoring to protect BPA’s financial health.
Speaking on behalf of the Board Chairman, Ambassador Kwadwo Nyamekye-Marfo, Member of Parliament for Akan Constituency Hon. Yao Gomado praised BPA’s operational record.
He revealed that the Authority generated 1,348 GWh of energy, slightly above its target of 1,333 GWh, while the Bui Reservoir ended the year at 178.79 meters above sea level, up by 2.41 meters.
Delivering remarks on behalf of the Energy Minister, Deputy Minister of Energy and Green Transition Hon. Richard Gyan-Mensah commended BPA’s contribution to Ghana’s energy sector, underscoring the importance of transparent performance reviews to engage stakeholders and address challenges.
He reaffirmed government’s commitment under President John Dramani Mahama to a green and sustainable energy transition, calling it “both a moral duty and an economic necessity.”
With this strong 2024 performance, BPA has reinforced its role as a key player in Ghana’s renewable energy agenda, even as it works to tackle rising receivables to safeguard long-term financial stability.
Source: Myxyzonline.com
