Dr. Elikplim Kwabla Apetorgbor, CEO of Independent Power Generators Ghana, has disputed claims made by the Ministers of Finance and Energy regarding an agreement with Independent Power Producers (IPPs).
He called their assertion that a deal had been reached “inaccurate.”
This follows a statement from Herbert Krapa, Minister of State at the Energy Ministry, on August 16, 2024, claiming that the government had restructured the legacy debt owed to IPPs, addressing a major operational concern.
Krapa suggested that this restructuring puts Ghana in a favorable position.
However, Dr. Apetorgbor argues that negotiations are still ongoing and criticized the ministers for disseminating potentially misleading information.
He warned that such inaccuracies could harm Ghana’s credibility and its business relationships with important stakeholders.
Dr. Apetorgbor has urged the ministers to avoid further public comments on the matter until a final agreement is reached and all parties are properly informed.
As of June, only two IPPs, CenPower and Amandi, had accepted the government’s debt restructuring proposal.
Others, including Karpowership, Twin City Energy, Sunon Asogli, Cenit Energy, and AKSA, rejected the government’s proposal.
Below is the statement by Dr. Elikplim Kwabla Apetorgbor
FOR IMMEDIATE RELEASE
August 18, 2024
No agreement reached with the Independent Power Producers (IPPs)
I refer to pronouncements by the Minister for Finance and Minister of State at the Ministry of Energy suggesting that an agreement has been reached with IPPs is inaccurate. Let me categorically state that no such agreement has been reached at this time.
While negotiations have not been concluded, it is crucial to ensure accuracy in the information disseminated to the public.
Misleading statements about the status of the negotiations have significant repercussions, including pressures and demands from our principals. It also risks jeopardizing our credibility and business relationships with key stakeholders.
Therefore, I strongly urge the Minister for Finance and the Minister of State at the Ministry of Energy to refrain from making any further public comments on this matter until a definitive agreement has been reached and all parties are duly informed.
We remain committed to finding a sustainable solution to the debt owed IPPs, and once an agreement has been finalized, we will ensure that the public is duly informed.
Thank you.
Dr. Elikplim Kwabla Apetorgbor
CEO, Independent Power Generators, Ghana
