IPPs Archives - Wontumi Online

23 Apr

Debt Restructuring: Government To Reach Agreement With IPPs In May

wontumionlineBusiness, Newsdebt restructuring, Finance Minister, IPPs

The government has given an indication about reaching an agreement with Independent Power Producers (IPPs) on debt restructuring as part of measures to reduce deficit in the energy sector. That, Dr Mohammed Amin Adam, Finance Minister, said would be essential in solving the country’s energy sector financial challenges, which has been largely attributed to recent power outages across the country. The Minister was speaking at a press briefing to wrap up Ghana’s activities at the just ended International Monetary Fund (IMF)/World Bank Group (WBG) Spring Meetings in Washington, US, monitored by the Ghana News Agency. He noted that though the…

29 Nov

We Can’t Guarantee Power Generation – IPPs

wontumionlineBusinessIPPs, Power supply

Independent Power Producers (IPPs) have hinted they may soon shut down production of power due to their inability to reach an agreement with the government over the restructuring terms of debt owed them. The IPPs, on July 1, suspended a threatened shutdown after it said it had reached an interim deal with the Electricity Company of Ghana over the arrears. But three months down the line, the Chief Executive Officer (CEO) of the Chamber of Independent Power Producers, Dr. Elikplim Apertorgbor is warning of a looming power crisis over the lack of progress in the negotiations. “We received some indications…

26 Jul

Government Debt To IPPs To Hit $2.2Bn By July 31, 2023

wontumionlineBusinessdebt, IPPs

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 how to retrieve some of the debt owed them by the government. They have declined to give any further comment until after the emergency meeting. Joy Business is learning 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…

05 Mar

We Will Address Arrears As Part Of External Debt Restructuring – Government To Ipps

wontumionlineBusiness, Newsdebt restructuring, IPPs, Ken Ofori Atta, PPAs

Government has assured the Independent Power Producers (IPPs) that it is taking the necessary steps to address the energy sector arrears as part of its external debt restructuring. This is to forestall the build-up of future arrears and improve on efficiency within the sector. In a letter to the IPPs signed by the Finance Minister, Ken Ofori-Atta, sighted by Joy Business, government said it has rolled out a raft of structural reforms, aimed at generating sufficient cash to ensure payments in line with the respective Power Purchase Agreements (PPAs). These measures include but are not limited to the Public Utilities…