The Independent Power Generators, Ghana has denied reaching an agreement with the government to restructure the $1.0 billion debt owed its members.

According to its Chief Executive Officer, Dr. Elikplim Kwabla Apetorgbor, negotiations have not been concluded.

In a statement, he said misleading statements about the status of the negotiations have significant repercussions, including pressures and demands from the members' principals.

“I refer to pronouncements by the Minister for Finance [Dr. Mohammed Amin Adam] and Minister of State at the Ministry of Energy [Herbert Krapah] suggesting that an agreement has been reached with IPPs is inaccurate. Let me categorically state that no such agreement has been reached at this time”.

“While negotiations have not been concluded, it is crucial to ensure accuracy in the information disseminated to the public. 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 stressed.

It urged the Minister for Finance and the Minister of State at the Ministry of Energy to refrain from making further public comments until a definitive agreement has been reached and all parties are duly informed.

It expressed its commitment to finding a sustainable solution to the debt owed IPPs, and once an agreement has been finalized, we will ensure that the public is duly informed.

Find below the statement

FOR IMMEDIATE RELEASE

August 18, 2024

No agreement reached with the Independent Power Producers (IPPs)

I refer to pronouncements by the Minister for Finance and Minister of State at the Ministry of Energy suggesting that an agreement has been reached with IPPs is inaccurate. Let me categorically state that no such agreement has been reached at this time.

While negotiations have not been concluded, it is crucial to ensure accuracy in the information disseminated to the public. 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.

Therefore, I strongly urge the Minister for Finance and the Minister of State at the Ministry of Energy to refrain from making any further public comments on this matter until a definitive agreement has been reached and all parties are duly informed.

We remain committed to finding a sustainable solution to the debt owed IPPs, and once an agreement has been finalized, we will ensure that the public is duly informed.

Thank you.

Dr. Elikplim Kwabla Apetorgbor

CEO, Independent Power Generators, Ghana