CEO of the Chamber of Independent Power Generators, Ghana (IPPS), Dr. Elikplim Kwabla Apetorgbor has strongly rebutted claims by Finance Minister Dr. Mohammed Amin Adam that an agreement has been reached regarding debt restructuring with IPPs after six years of negotiations.
Apetorgbor emphasized that no such agreement has been finalized since the last engagement in April 2024.
He criticized the Minister’s statements as misleading and urged for transparent communication going forward.
“It has come to our attention that the Minister of Finance has made public statements indicating that a deal has been reached with Independent Power Producers (IPPs) regarding debt restructuring. We must categorically state that this assertion is misleading and inaccurate”.
“The last engagement with some of the IPPs and the Government of Ghana’s negotiating team occurred in April [2024] and since then, no agreement on any terms has been reached. The posture and generalisation that the government has secured a debt restructuring agreement with the IPPs are misleading and amount to public deception”, he added.
“We urge the Minister of Finance to refrain from making such inaccurate statements and to engage in transparent and honest communications”, he pointed out.
Only CenPower and Amandi among the IPPs reportedly accepted the government’s debt restructuring proposal, while others like Karpowership, Twin City Energy, Sunon Asogli, Cenit Energy, and AKSA rejected it.