IPPs Suspend Planned Shutdown After Engagements With ECG1 min read
The Independent Power Producers (IPPs), responsible for over 50% electricity generation in Ghana, have suspended their planned shutdown “following fruitful engagements with the Electricity Company of Ghana (ECG).”
The Chamber of Independent Power Producers of Ghana (IPPG) had given the government a 30 June ultimatum to pay 30% of the US$1.4 billion debt owed to them or will shut down their plants.
“As part of the understanding reached, all the IPPs have received an offer of payments from ECG to enable them operate in the interim thereby providing the government of Ghana and ECG the needed grace period to address the outstanding arrears in the energy sector and to meet their contractual obligations,” the chief executive of the IPPG, Elikplim Kwabla Apetorgbor said in a statement.
“The IPPs are optimistic that this agreement reached would help yield the desired outcome of providing a permanent resolution to the energy sector debt failing which the IPPs will be left with no other choice than to revert to their earlier decision to shut down without any further notice.”
Below is the full statement of the IPPG:
