The Finance Minister Dr Mohammed Amin Adam has revealed that the government has reached an agreement with five out of the seven independent power producers (IPPs) over debt settlement. He says the payment formed part of the agreement the government has paid an amount of $ 400 million to the IPPs. Speaking during a joint
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The Finance Minister Dr Mohammed Amin Adam has revealed that the government has reached an agreement with five out of the seven independent power producers (IPPs) over debt settlement.
He says the payment formed part of the agreement the government has paid an amount of $ 400 million to the IPPs.
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.
Livestream of a Joint Press Briefing with the IMF on Ghana’s economyhttps://t.co/OErDZvPre4
— Ministry of Finance, Ghana (@MoF_Ghana) July 1, 2024
“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.”
IPPs abort threat to shut down as ECG settles debt
The post Govt has reached agreement with 5 Independent Power Producers – Finance Minister first appeared on 3News.
