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Presentation to Key Stakeholders on
VRA’s 2017 Performance
October 30,2018
Presentation Outline1. Electricity Market Dynamics
2. Operational Performance
3. Financial Performance
4. Generation Capacity and Projects
5. Corporate Social Responsibility
6. Challenges/Opportunities
7. Way Forward
Electricity Market Dynamics
Electricity Demand
Energy Sold in Ghana - Gwh Energy Sold by VRA - GWh
13,486
9,868
14,243
9,519
ENERGY DEMAND HIGHLIGHTS
2016 2017
Percentage of National Energy sold by VRA in 2016 and 2017 was 73% and 67% respectively
Ghana Electricity Demand
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
ENER
GY
IN G
WH
OPERATIONAL YEAR
ANNUAL ENERGY CONSUMED (GWh) BY CLASS OF CUSTOMER2003 -- 2017
SYSTEM USAGE
SONABEL+YOUGA MINE
CIE (NET)
CEB
MINES & OTHERS
ECG
VALCO
VRA 2017 Customer Electricity Demand
Power sold by VRA to its Customers in 2017 was 9,519 GWh. This was 3.54% lower than the 2016 figure of 9,868 GWh
ECG55%
NEDCo13%
EPCL2%
Export Customers3%
Mines12%
Other Bulk Customers9%
Transmission and Substation Use6%
VRA 2017 CUSTOMER DEMAND
VRA 2017 Electricity Supply
Hydro53%
VRA Thermal 25%
Solar0.03%
Puchases & Imports22%
VRA 2017 Electricity Supply
Hydro VRA Thermal Solar Puchases & Imports
VRA Hydro generation was 5,034GWh (53%) in 2017, compared to 4,617GWh (46%) in 2016
Operational Performance
Performance: Hydro Plant availability
0
10
20
30
40
50
60
70
80
90
100
AKOSOMBO
KPONG
94.28
72.52
AKOSOMBO AND KPONG PLANT AVAILABILITY FACTORS (%)
Kpong GS Availability was below the target of 90% because of the Retrofit
Performance – Inflow for Hydro Generation
Performance: Thermal Plant availability
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
80.0
90.0
100.0
36.0
96.96
78.4
Thermal Plant Availability
Plant Availability
TAPCo TT1PP KTPS
Financial Performance
VRA 2017 Financial Highlights
2,5
62
2,6
92
67
5
55
8
39
3
2,6
33
2,4
81
42
9
46
4
39
6
REVENUES COST OF SALES ADMINISTRATIVE COSTS
FINANCIAL EXPENSES* EXCHANGE LOSSES
VRA FINANCIAL HIGHLIGHTS - GHSM
2016 2017
VRA 2017 Financial Highlights
0
0.05
0.1
0.15
0.2
0.25
0.3
0.35
0.4
2013 2014 2015 2016 2017
Operating Costs and Revenues- GHS/kWh
Average Operating Cost Average Revenues
VRA Financial Summary
2013 2014 2015 2016 2017
414
190 15491
152248
-99
-437
-169
728
52
-996
-1,358 -1,320
-431
VRA PROFITABILITY HIGHLIGHTS- GHSM
Gross Profit Operating Profit Net Profit
Group Financial Performance: 2013 - 2017
2013 2014 2015 2016 2017
361
190 108
(45) (100)
208
(74) (525) (190)
428
62
(800)
(1,309)(1,224)
(606)
GROUP PERFORMANCE -GHS M
Gross Profit Operating Profit Net Profit
Generation Capacity and Projects
Generating Stations: Installed CapacityVRA Plant Installed Capacity
(MW)
Dependable Capacity
(MW)
Current Available Capacity
(MW)AKOSOMBO 1020 900 900
KPONG 160 140 105
TAPCO 330 300 100
TICO 330 320 320
T3 132 120 0
TT1PP 110 100 100
TT2PP 49.5 45 0
TT2PP Exp 36.5 32 0
MRP 80 70 0
KTPP 220 200 200
SOLAR NAVRONGO 2.5 2.5
TOTAL VRA 2470.5 2227 1727.5
BUI 400 360 220
SAPP 560 540 540*
CENIT 110 100 0
KAR POWER 450 430 430
AMERI 250 230 200
CENTRAL REGION SOLAR 20 20
TOTAL GHANA 4260.5 3887 3137.5
Ongoing Projects
Kpong Retrofit Project
Projects Under Development
Renewables▪ 12 MW Solar Project at Kaleo and
Lawra▪ Development of Bongo Solar
Project – 30MW▪ Walewale Solar project – 30MW▪ Feasibility and ESIA Studies on
2 x 75MW wind farms
Thermalo Repowering 132 MW T3
(Discussions with Government ongoing)
o Conversion of 110 MW TT1PP into Combined cycle
o Conversion of 220 MW KTPP into Combined cycle.
Hydro▪ Pwalugu Multi-purpose Dam
Project – 50MW
Nuclearo Supporting GAEC on GoG
Nuclear Programme.
Corporate Social Responsibility
Corporate Social Responsibility
− Annual Contribution of USD
500,000 to the Resettlement Trust
Fund
− Provision of Healthcare for
lakeside communities
− Ada Dredging Project
− Aquatic weed eradication
− Afforestation
Corporate Social Responsibility
VRA PHU staff carrying out Bilharzia testing at
Kebenu Community, Central Tongu
Donation of Lab equipment at Kpone
Community SHS, Tema
Corporate Social Responsibility
Provision of solar-powered mechanized
borehole water system
Provision of Biofil Sanitation facilities at
Kebenu Community
Challenges/Opportunities
Challenges / Opportunities
Challenges• Inadequate regulated
market tariffs
• Liquidity Challenges with Major customers(ECG, GoGand VALCO )
• Excess Generation capacity
Opportunities• Export Market
• New Steel Company and Large Industries under 1D1F
• Integrated Aluminum Project
• Newmont & Ashanti Gold Mine Expansion
Way Forward
OUR STRATEGY
Build, Nurture
& Develop VRA’s
Human Capital
E
Restore
VRA’s Finances I
Sustain VRA’s
Position as Market
Leader
I
Advance
Internal and External Business
Processes
S
A
Ensure
Development in a
Sustainable Manner
R B
Improve
Operational & Project
ImplementationEfficiencies
THE NEW VRA
“Restructuring & Refocusing VRA to
become a Resilient, Sustainable &
Growing Multi-Business Holding
Company”
“Ensure the Short Term Financial
Sustainability of VRA.”
“Ensure VRA’sCompetitiveness
by Improving Internal Business & Organisational Processes, O&M
and CAPEXExcellence
“Extending our Environmental Foot Print by Investing in Renewables & Other
Forms of Clean Energy.”
“ Build and Develop
VRA’sHuman Capital”
VRA
Beyond
Aid/ GoG
Support)
m
Leadershi
p in
Climate
Change
Agenda
Our
Business
Is About
People
Meeting the
needs of the
New Energy
Consumer
VRA BEYOND AID
VRA BEYOND AID
Thank You