Clearing energy sector legacy debts: IPGs commend govt for settling arrears
The Independent Power Generators (IPGs) have commended the government for settling a “substantial portion” of legacy arrears owed them.
This comes on the back of an announcement by the Finance Minister, Dr Cassiel Ato Baah Forson, that the government in 2025 paid US$1.47 billion in energy sector debts.
It included US$399 million paid to nine IPGs — Karpower (US$120 million), Cenpower (US$59.4 million), Amandi (US$37.9 million), Early Power (US$42 million), BXC (US$10 million), Meinergy Technology (US$8.8 million), Sunon Asogli (US$54 million), AKSA Energy (US$30 million) and Cenit Energy (US$30 million).
The payment of these “long-outstanding obligations” represents a major milestone in restoring financial stability and operational confidence across the power sector, the IPGs said in a statement.
“This achievement reflects decisive leadership, disciplined fiscal management and a clear commitment by government to resolving inherited structural challenges that have constrained the sector for several years,” the statement stressed.
The IPGs noted the special roles played by the Ministers of Finance and Energy and Green Transitions, Dr Cassiel Ato Forson and Dr John Jinapor, respectively, for the disciplined implementation of the Cash Waterfall Mechanism and other reforms that have ensured improved payment performance to service providers.
“These actions,” the statement emphasised, “have sent a powerful signal to both domestic and international investors that Ghana is firmly committed to honouring its contractual obligations, strengthening sector governance, and rebuilding credibility in its power market.”
“As a result, investor confidence in Ghana’s energy sector has been meaningfully restored, positioning the country to attract new capital, technology and long-term partnerships,” it added.
The IPGs reaffirmed their unwavering commitment to Ghana’s energy security, economic transformation and industrial development.
“We pledge our full cooperation with government and all sector agencies to sustain reliable power supply, support sector reforms, and promote efficiency, transparency and value for money across the power value chain,” the statement said.
The power generators expressed confidence that the collaborative spirit demonstrated in resolving the arrears would continue to guide Government–IPG partnerships towards a future of energy sustainability, financial discipline and shared prosperity for the citizenry.
BY JULIUS YAO PETETSI
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