Audio By Carbonatix
The Chief Executive Officer of the Chamber of Independent Power Generators, Ghana (IPPS), Dr. Elikplim Kwabla Apetorgbor, has dismissed the Minister of Finance, Dr. Mohammed Amin Adam’s assertion that the IPPs has agreed to a haircut after six years of negotiation with the Government of Ghana.
According to him, the Minister’s statement is misleading and inaccurate.
In a statement copied to Joy Business, he said, the last engagement of some IPPs with the Government of Ghana's negotiating team occurred in April 2024, and since then, no agreement on any terms has been reached.
“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.
He concluded that the IPPs remain committed to constructive dialogue and finding a mutually beneficial resolution to the ongoing discussions.
Joy Business understands that only two IPPs, CenPower and Amandi accepted the government’s proposal to restructure the IPPs' debt.
The rest, Karpowership, Twin City Energy, Sunon Asogli, Cenit Energy and AKSA rejected the haircut proposal by the Government of Ghana
The Finance Minister in a statement in London said the IPPs agreement includes accepting a reduction in their claims (haircut), allowing the government to spread payment over five years.
“The negotiations have been going on for six years, and I am happy to announce that last week, l closed the negotiations with the IPPs," he revealed.
Latest Stories
-
Every year, the lawyers come out, and so does the nonsense! – Ace Ankomah writes
18 seconds -
Digital transformation without an ownership culture can digitise poor service
3 minutes -
Fishing communities demand revocation of offshore gold exploration licences over livelihood concerns
6 minutes -
How Ghanaian tycoon Manoj Lakhiani built a water and plastics empire from a $25,000 loan
8 minutes -
GoldBod recovers GH¢38.7m of GH¢55.8m outstanding receivables; remainder subject to legal action – Sammy Gyamfi
15 minutes -
GEXIM Bank donates GH¢200,000 worth of medical equipment to Korle-Bu Child Health Department
18 minutes -
Majority rejects Minority’s claims over GH¢49.7m South Africa evacuation
19 minutes -
GEXIM urges banks to support refurbishment of Korle-Bu Teaching Hospital’s Child Health Department
23 minutes -
Don’t appoint your cheerleader as referee
27 minutes -
Ghana needs stronger international cooperation to fight cybercrime – CSA
29 minutes -
CSA warns of growing cyber threats as Ghana’s digital dependence increases
36 minutes -
USTED dean warns GAUA strike could disrupt Ghana’s restored academic calendar
49 minutes -
Bechem meat processing factory 50% complete, set for March 2027 completion – Kwakye Ofosu
1 hour -
NDC can appoint whoever they want to EC, but Ghanaians will make a decision in 2028 – Titus Glover
1 hour -
GoldBod initiative has created over 1,300 public and private sector jobs – Sammy Gyamfi
1 hour