Tuesday, 27 February

ECG, Sunon Asogli power to discuss $60 Million debt resolution today

General News
Sunon Asogli Power took the drastic step of shutting down operations on Monday, 4 December 2023, citing government's delay in meeting its financial obligations to power plants

The management of the Electricity Company of Ghana (ECG) is scheduled to engage in a meeting with independent power producer Sunon Asogli Power (Ghana) Limited.

The meeting will take place today, 8 December 2023. 

The primary agenda is to discuss viable payment plans for a USD60 million debt owed by the government to the power producer.

Sunon Asogli Power took the drastic step of shutting down operations on Monday, 4 December 2023, citing government's delay in meeting its financial obligations to power plants.

However, following the intervention of Finance Minister Ken Ofori-Atta regarding the clearance of the debt, Sunon Asogli Power decided to suspend its decision for a week.

The power producer emphasised that the mounting unpaid bills had significantly hampered its operational capacity, rendering it unsustainable to continue without addressing the pressing financial challenges.

In an acknowledgment note, Sunon Asogli Power outlined government's commitment, stating: “Kindly confirm our understanding that we shall be paid an interim sum of $60 million in two tranches.

“The first tranche USD30 million to be paid this week and the second tranche in the week of 11th December 2023."

Source: classfmonline.com/Elikem Adiku