An amount of $ 400 million has been paid to five independent power producers (IPPs) as part of the debt settlement, Finance Minister Dr Mohammed Amin Adam has revealed. The payment formed part of the implementation of the agreement that the government has reached an agreement with five out of the seven independent IPPs over
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An amount of $ 400 million has been paid to five independent power producers (IPPs) as part of the debt settlement, Finance Minister Dr Mohammed Amin Adam has revealed.
The payment formed part of the implementation of the agreement that the government has reached an agreement with five out of the seven independent IPPs over debt settlement.
Speaking during a joint Ministry of Finance, Bank of Ghana, and International Monetary Fund (IMF) press conference on the disbursement of the $360 million third tranche, in Accra on Monday, July 1, Dr Amin Adam stated that the threats that the IPPs issued to shut down their plant will not happen because of the agreement.
He said “we have reached an agreement with Aksa Energy, Amandi Energy, Cenit Energy, Cenpower Generations and Early Power.”
“We have seven IPPs and we have reached an agreement with five, which is very positive for our country.
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“It tells us that the threats of shutting down power plants will be a thing of the past because we are committed to implementing the terms of this agreement. we already have started performing on our side and to date government has paid in excess of 400 million dollars to all IPPs as part of our performance of the agreement that we just reached.”
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