IPPs on emergency meeting as Government debt rises to $2.3 Billion.
The government’s failure to settle outstanding arrears owed to Independent Power Producers (IPPs) has led to an emergency meeting being convened by the producers.
The debt owed to the IPPs has escalated from US$2 billion to approximately US$2.3 billion.
Scheduled to take place on Thursday, July 27, 2023, the meeting aims to address the ongoing issue of non-payment. Earlier, the IPPs had decided against shutting down their power plants that supply the national grid, following what they believed were productive discussions with the Electricity Company of Ghana.
Despite assurances and the continuation of power production in July after the June 30 deadline, it appears that the agreements made during the engagements have been breached, much to the disappointment of the IPPs.
The upcoming emergency meeting will focus on finding a strategy to resolve the government’s indebtedness and avoid potential power crises.
However, the IPPs have remained tight-lipped about their specific predicaments, with a promise to provide further details after the meeting takes place on Thursday.
As the situation develops and discussions unfold, more information is expected to be revealed, shedding light on the challenges faced by the IPPs and the potential implications for Ghana’s power supply.
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