CEO of the Independent Power Generators in Ghana, Dr. Elikplim Kwabla Apetorgbor, has denied government claims that an agreement has been reached with Independent Power Producers (IPPs) regarding payment terms amidst ongoing debt restructuring talks.
The IPGG stated that no such agreement has been finalized, contrary to recent statements by the Minister of State at the Ministry of Energy, Herbert Krapa, and Minister of Finance, Dr. Mohammed Amin Adam.
In a statement signed by Dr. Elikplim Kwabla Apetorgbor, the claims made by the ministers were labeled as ‘inaccurate,’ with the IPGG asserting that negotiations are still ongoing and no agreement has been concluded.
“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 called on the Minister of Finance and the Minister of State at the Ministry of Energy to hold off on making any additional public remarks about the issue until a conclusive agreement is finalized and all stakeholders have been adequately 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.
Under the terms of Ghana’s IMF program, the government must restructure the debt owed to Independent Power Producers, who are vital to the nation’s energy and power supply chain.