Dr. Elikplim Kwabla Apetorgbor, CEO of the Independent Power Generators in Ghana, has refuted claims made by the government suggesting that an agreement had been reached with Independent Power Producers (IPPs) on payment terms amid debt restructuring negotiations.

According to the IPGG, no such resolution has been achieved, as recently indicated by the Minister of State at the Ministry of Energy, Herbert Krapa and Minister of Finance, Dr. Mohammed Amin Adam.

In a statement issued and signed by Dr. Elikplim Kwabla Apetorgbor, it described the claims made by the ministers as 'inaccurate', denying the existence of any finalized agreement even as negotiations continue.

"While negotiations have not been concluded, it is crucial to ensure accuracy in the information disseminated to the public," the statement read.

"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," it added.

The IPGG CEO urged the Minister for Finance and the Minister of State at the Ministry of Energy to refrain from making any further public comments on the matter until a definitive agreement has been reached and all parties involved have been duly informed.

“We remain committed to finding a sustainable solution to the debt owed to IPPs, and once an agreement has been finalized, we will ensure that the public is duly informed,” the IPGG statement noted.

As part of the conditionalities set in Ghana’s IMF programme, the government had to restructure debt payments owed to Independent Power Producers who play a key role in Ghana’s energy and power supply value chain.

MA/AE

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