ECG clears IPPs debt

• Posted on August 25, 2023August 25, 2023
• by Nana Kwesi Coomson
• Comment

In an effort to foster a stable and sustainable energy sector in Ghana, the Electricity Company of Ghana (ECG) has finally settled its outstanding debt to the Independent Power Producers (IPPs).

The payment, which was part of the commitment made on June 30, 2023, was warmly received by the Power Generators as a testament to the collaborative efforts made in ensuring that Ghana receives a consistent and reliable energy supply.

The Chief Executive of the Chamber Independent Power Generators, Ghana, Elikplim Apetorgbor, in a statement signed on behalf of the group, applauded the Electricity Company of Ghana for upholding its promise and settling its financial obligations promptly.

The statement also commended ECG for its transparent and constructive partnership, which was instrumental in ensuring the stability of Ghana’s energy sector.

Furthermore, the Power Generators expressed their dedication and commitment to contribute their expertise and resources to bolstering Ghana’s power generation capabilities. The statement revealed that through continued collaboration and commitment to transparency, Ghana will have access to consistent and reliable energy supply to the benefit of its citizens.

The settlement of the outstanding debt comes as good news to the Independent Power Generators, who were worried about the effect of the debt on their operations.

However, with the payment made, IPPs can now continue to provide high-quality power to Ghana, which is essential to the growth of the country’s economy. The move is expected to spur the growth of Ghana’s energy sector by encouraging the involvement of more private sector players in electricity generation.

Overall, the settlement of the impending debt is a positive step forward for Ghana’s energy sector as it helps to strengthen the possibilities of a reliable and consistent energy supply for its citizens.

By Vincent Kubi