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Tullow MD urges swift end to VRA thermal asset sale

  • POSTED ON: November 13, 2017
  • SOURCE: Citifmonline
  • CATEGORY:

Energy sector players want government to expedite processes in the decoupling of thermal assets management from the Volta River Authority (VRA).

They argue that a further delay of the process will hamper efforts to reform the energy sector for efficiency.

Deliberations are underway with relevant stakeholders over plans to limit VRA’s mandate to the management of hydro plants by selling off the thermal plants to a private entity.

The decision has faced stiff opposition from staff who complain of little consultation.

However, speaking at this year’s annual conference of the Society of VRA Engineers, the Managing Director of Tullow Ghana, Charles Darku stressed that expediting the process will be critical for the growth of the energy sector.

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“I think the lesson from the successes of other reformed sectors of the economy demonstrate clearly that some form of reform is necessary. And while the agenda for reform is essentially one for asset owners to decide, an informed and robust debate by all stakeholders will be helpful to build the consensus needed to adopt a model of reform that would lead to a sustainable transformation of the sector for its long term prosperity.”

Mr. Darku added, “At the same time, there are other forms of internal reform, that are under the direct control of operators of the assets to improve the sector’s economic fortunes and to align with the reform options agreed upon and their implementation strategy. In today’s global economy, comparative advantage in maximising the capabilities of any company or industry is key to its success.”

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Already, other industry watchers have advised government on the need to tread cautiously and address all labour concerns during the process.

This they believe will rid the plan of any major resistance when eventually rolled out.

The conference of the VRA engineers was on the theme, “Transforming Thermal Generation Business through Restructuring and Financing”.

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