Accra, August 29, 2025 – The Bui Power Authority (BPA) has reported a strong financial performance for the 2024 financial year, recording a net profit of $64.5 million, nearly double the budgeted projection of $33.6 million. This represents a positive variance of 92%, largely driven by prudent working capital management and the non-incurrence of certain administrative costs due to liquidity constraints.
The announcement was made during BPA’s 2025 Annual General Meeting (AGM), held at the Authority’s Head Office Auditorium in Accra. The meeting brought together key stakeholders, industry leaders, partners, and government officials to review the Authority’s 2024 performance and outline its strategic direction for the coming year.
In 2024, BPA generated a total of 1,348GWh of electricity, exceeding its target of 1,333GWh by 1.01%. The Bui Hydro Plant contributed 94.4% of total generation, while the Bui Solar PV Plant and the Tsatsadu Micro Hydro Plant accounted for 5.6% and the remainder respectively. The year also ended on a positive hydrological note, with the Bui Reservoir’s surface elevation rising from 176.38 masl to 178.79 masl. Ambassador Kwadwo Nyamekye-Marfo, Chairman of the BPA Board, in a speech read on his behalf by Board Member Hon. Yao Gomado, commended the Authority’s performance as “outstanding,” despite persistent sector-wide challenges.
The Board Chairman noted that BPA continues to grapple with liquidity constraints stemming from outstanding debt owed by its primary off-taker, the Electricity Company of Ghana (ECG). This situation, he said, has affected the Authority’s ability to finance spare parts procurement, capital projects, and loan servicing.
He further highlighted environmental threats such as illegal mining (galamsey), unregulated farming practices along the Bui reservoir, and bushfires during the dry season, which continue to pose risks to the Authority’s operations and environmental stewardship.
Acting CEO of BPA, Ing. Kow Eduakwa Sam, assured stakeholders of the Authority’s commitment to innovation and operational excellence. “In a challenging operating environment shaped by global economic uncertainties, adverse climate transitions, and mounting receivables, we remained committed to excellence in operational performance and innovation. BPA made significant progress in our Hydro-Solar-Hybrid generation capacity initiatives, ensuring consistent peaking power delivery, and advancing our diversification in renewables,” he said.