IPPs debt: ECG pays Sunon Asogli $30 million out of $60 million owed

The Managing Director of the Electricity Company of Ghana (ECG), Samuel Dubik Mahama has revealed that $30 million out of the $60 million debt owed to Sunon Asogli Power Limited has been paid.

According to him, the payment was made on December 7, 2023.

He added that plans are in place to make the payment for the second tranche of the debt amount and assured that there will be no delays.

“Sunon Asogli has received $30 million from the government of Ghana and the conversations are far advanced for a second tranche of another $30 million to be paid to them and as it stands now, Sunon Asogli has always been an integral part of our growth," the ECG MD said.

“They are one of the first IPPs and they have always treated Ghana fairly when it comes to how they have structured their PPAs, they are very good partners that we intend to grow with so we have even come up with a new way to renegotiate our outstanding PPA to make it much more efficient and cheaper for the good people of Ghana,” he was quoted by citinewsroom.com.

Meanwhile, Sunon Asogli had earlier threatened to shut down its 500MW plant after the government’s inability to pay its debts.

The government in a swift response then assured that the debts would be paid to the company.

The ECG boss however pointed out that his outfit is committed to strengthening its relationship with all independent power producers in the country.

SSD/MA

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