Government debt to IPPs to hit $2.2bn by July 31, 2023

Source The Ghana Report

The government’s indebtedness to the Independent Power Producers (IPPs) is expected to hit $2.2 billion by the end of July 2023.

To this end, the IPPs will convey an emergency meeting tomorrow, July 27, 2023, to strategise on retrieving some of the debt the government owes.

They have declined to give any further comment until after the emergency meeting.

Sources indicate that the IPPs are unhappy because the government has breached its promise to settle part of the debt and will not hesitate to cut power supply to the national grid.

They had earlier threatened to stop supplying power to the national grid if the government fails to fulfil part of its obligations to them.

However, the intervention of the Managing Director of the Electricity Company of Ghana, Samuel Dubik Mahama, stopped the planned power cut to the national grid, after a promise to settle some of the debt.

The action could have led to power fluctuation popularly called ‘dumsor’.

Sunon Asogli, Cenpower, Karpowership, AKSA, Twin City Energy and CENIT together make up the IPPs.

In all, they produce 2,010 megawatts of power.

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