Ghana News & Trends

Ghanaian electricity companies reject a plan to restructure $1.4 billion in debt

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Independent power producers in Ghana have rejected the government’s request to include $1.4 billion in arrears in the nation’s external debt restructuring and are urging officials to fulfill payments that begin due on Friday.

Elikplim Apetorgbor, the group’s chief executive officer, said in an interview on Wednesday in Accra that the government must make the payment it owes to six of its members or risk the shutdown of power plants.

The Independent Power Generators of Ghana, an umbrella association known as IPP, represents eight foreign and one local power supplier. He claimed that the funds were required to pay input suppliers and service bank debts.

Aksa Energy, Amandi Energy, Karpowership Ghana, Sunon Asogli, Cenpower Generation, and Cenit Energy are the organizations due money. According to the association, these suppliers provide 2,154 megawatts of the country’s 3,558 megawatt peak demand along with Meienergy and Trojan Power.

Early Power, the ninth participant, has not yet connected its 400 megawatt plant to the national grid.

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