IPPs

We Can’t Guarantee Power Generation – IPPs
29 Nov

We Can’t Guarantee Power Generation – IPPs

Wontumi1Business,
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…
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Government Debt To IPPs To Hit $2.2Bn By July 31, 2023
26 Jul

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

Wontumi1Business,
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…
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Independent Power Producers to shut down thermal plants
24 Sep

Independent Power Producers to shut down thermal plants

Wontumi2Business,
Independent Power Producers (IPPs) will shut down their thermal plant by the end of this month if government fails to honour its debt obligation which is running into over $1.4 billion. This will consequently lead to power rationing if the planned shut down of the plants goes ahead.  According to a notice to the Energy Minister, sighted by Joy Business, the IPPs warned that the shutdown is as a result of the members’ difficult cash flow position as they have not received enough payment to honour their gas bill and other financial obligations. The IPPs contribute about 45 per cent…
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