The disagreements between government and the Independent Power Producers (IPPs) is not ending any time soon as the power producers haveissued a statement refuting claims made by the Minister for Finance and the Minister of State at the Ministry of Energy regarding the conclusion of an agreement with Independent Power Producers (IPPs) over debt restructuring. Dr. Elikplim Kwabla Apetorgbor, CEO of Independent Power Producers has stressed that no agreement has been finalized at this time.
This clarification follows recent announcements from government officials suggesting that a resolution had been reached concerning the ongoing debt owed to IPPs. Dr. Apetorgbor stated that while negotiations are ongoing, they have not yet reached a conclusion.
“It is essential to ensure accuracy in the information communicated to the public,” Dr. Apetorgbor remarked. “Misleading statements regarding the status of these negotiations can have significant repercussions, including undue pressures and demands from our stakeholders. Furthermore, such inaccuracies jeopardize our credibility and business relationships with key partners.”
Finance Minister Dr. Mohammed Amin Adam had earlier said that his Ministry has concluded negotiations with 5 out of 7 power producers and accused Dr. Apetorgbor of pursuing a personal agenda.
In light of this situation, Dr. Apetorgbor urged the Minister for Finance and the Minister of State at the Ministry of Energy to refrain from making further public comments on the matter until a definitive agreement has been reached and all relevant parties have been informed.
The ongoing discussions between the government and IPPs aim to address the significant debt of approximately US $1 billion owed to Independent Power Producers (IPPs) in Ghana. This debt has become a critical issue for the power sector, as it poses considerable challenges for the government in maintaining a reliable and affordable energy supply for the nation. The IPPs have expressed concerns that the non-payment of debts could potentially disrupt operations and impact the generation of over 65% of the country’s thermal power.
Dr. Apetorgbor reaffirmed the commitment of the independent power producers to finding a sustainable resolution to the debt owed to IPPs. “We remain dedicated to working towards a solution, and once an agreement is finalized, we will ensure that the public is appropriately informed,” he stated.
