The Chief Executive of the Volta River Authority, Mr. Kweku Andoh Awotwi has said VRA is being driven on a new path that readies the electricity generator for the imminent competition. “I would like to think that we are setting VRA on a new path. The benefit of coming from outside is that most of the people who work at VRA have worked here for 20 years or more. Part of that is because VRA is one of the most respected and best places to work. In return, it does not fertilize new ideas or new thinking. For a long time it was OK as it was the monopoly in the country. “If you look at Ghana’s recent history we see big companies such as Ghana Airways, Ghana Telecom and Black Star Lines, which have gone under; there is a whole list of these once great companies who no longer exist or they are a pale shadow of their past selves. Many were state-run companies or monopolies who were not ready for the changing environment. “Ghana Airways in particular makes me sad because today, there are all kinds of airlines coming. Three different companies have come within the last month alone. But Ghana Airways did not prepare itself for the competition. They did not understand there was a new environment coming, which, if they wanted to be a part of, they had to be ready. “I would like to believe that I have set VRA on a new path where we see the competition coming and we are ready for it. Ten years from now they will not be talking about the VRA like they talk about Ghana Airways. They will be saying that VRA has thrived in a new and competitive environment. I think I have set that path but we still have to get down the road. I have reoriented VRA and we will see if we get there or not,” the VRA boss stated. He was speaking in an interview with B&FT’s collaborators United World news agency on a wide range of issues relating to the nation’s energy sector, and that of VRA. On whether VRA is looking for potential investors to finance new projects, he said: “There is one project that we are doing where we are looking for partners. A couple of years ago we had an energy crisis and the government procured two thermal generating plants from a European engineering company. We never got to finish that project. VRA is working with government and looking for joint venture partners to finish that project. At first we planned to finish that project in Tema of 200 megawatts.” “Now we believe the best thing to do is to move those units to where the gas is in the Western Region, and site it onshore close to the gas so all you need to do is build a pipeline. We started that exercise a month ago looking for joint venture partners. It needs around $80- $100 million USD to finish that project. We want to joint venture with a resourceful, technical and financially sound company who will be our partner on that. That is an immediate project. “In terms of looking for partners VRA is committed to build between 100-150 megawatts of renewables, as in wind and solar, in the next 2-3 years. In fact, I led a delegation to Spain in April to look at some of their wind farms. Spain has done an incredible job with wind farms. We went to Pamplona and were down in the South. “We are looking for partners for wind and solar. That is something we think we can do in the next 2-3 years that is of very keen interest to us. We have a number of hydro projects in the North that are smaller, 60-90 megawatts, to implement over the next 3-5 years. Those are long term projects and we are looking for partners to finish that. Hydro is something we know well. We are certainly looking for partners in renewables and the thermal sub-sector. As Ghana is on the brink of becoming an oil nation with an estimated reserve of five billion barrels of oil equivalent, Mr. Awotwi said even though the oil find is crucial, it must not be seen as the silver bullet to solve the nation’s problems. “If we manage it well, it will certainly make a big difference in our economy. From the VRA’s point of view, oil comes with gas. Natural gas has the potential to fuel our power plants and supply them at a price that is much lower than what we spend on crude oil. That should lower our costs by 50-60 per cent.” “The other benefit beyond lowering the price is that it will provide price stability because you will pipe it and it is a long term contract. You will not be faced with the ups and downs of a volatile crude oil price. “From the power sector’s point of view, finding gas should be of great benefit. This year we are expecting to get some gas from Nigeria. Even though we have contractual volumes promised, we are still at someone else’s mercy. Now, we have an opportunity to get gas in our own country and that should make a big difference.” Source: B&FT