The Minister for Energy and Green Transition, John Abdulai Jinapor, and the Minister for Finance, Dr Cassiel Ato Forson, held a crucial meeting with officials of Karpowership Co. Ltd. on Friday, 2nd May, in a bid to forestall a possible shutdown of Karpowership’s operations in Ghana. 

The meeting, which took place at the Ministry of Finance in Accra, was convened in response to threats by the company to suspend power supply over the government’s failure to settle a longstanding debt.

Karpowership, a key player in Ghana’s electricity generation, is reportedly owed approximately $400 million in unpaid legacy debt. 

The company’s threat to suspend its operations has sparked significant concern among stakeholders in the energy sector, given the critical role Karpowership plays in stabilising the national grid. 

The meeting was aimed at finding a resolution to the impasse and ensuring the continued supply of electricity.

Despite the urgency of the matter, Friday’s meeting ended without a conclusive agreement. 

Sources close to the discussions indicated that while some progress was made, key issues remain unresolved. 

As a result, both ministries and Karpowership officials have agreed to reconvene on Monday, 5th May, to continue the negotiations in hopes of reaching a compromise that will avert disruption to the power supply.

Ghana’s independent power producer (IPP) debt, estimated at about $2 billion, continues to pose a major threat to the country’s energy sector.