Government fails to settle IPPs as debts owed expected to hit GH¢2.2 billion

The government’s indebtedness to the Independent Power Producers is to hit GH¢2.2 billion by the end of July 2023.

The IPPs have, therefore, decided to hold an emergency meeting to discuss the way forward on how to receive their payments.

Earlier last month, the IPPs threatened to shut down their plants if the government failed to settle their debts.

The government, therefore, assured that plans were in place to pay the debts owed.

As long as government delays the debt, it keeps increasing.

GhanaWeb Business sources have hinted that the power producers are unhappy with the government’s “disappointment”.

They have however decided to address the issue based on the outcome of their meeting scheduled for tomorrow July 27, 2023.

Sunon Asogli, Cenpower, Karpowership, AKSA, Twin City Energy, and CENIT together make up the IPPs who jointly produce 2,010 megawatts of power.

SSD/NOQ

Watch the latest edition of BizTech and Biz Headlines below: