Sunon Asogli Power Ghana Limited, an Independent Power Producer, has disclosed that it has yet to receive any portion of the $30 million payment instructed by the Ministry of Finance and meant to be disbursed by the Controller and Accountant General’s Department (CAGD). This revelation comes despite prior assurances from the government.
The announcement follows Sunon Asogli’s recent decision to shut down its 560MW power plant due to an unresolved $259 million debt owed by the Electricity Company of Ghana (ECG).
Speaking to Citi Business News, Dr. Elikplim Apetorgbor, Business Development Manager at Sunon Asogli Power Ghana Limited, shared the company’s challenges in receiving payment. Efforts to arrange partial debt settlements have not yet yielded any concrete outcomes.
“We received notification from the Controller and Accountant General’s Department in the first week of our shutdown. They informed us that the Ministry of Finance authorized them to pay us $30 million. But they are having some challenges,” Dr. Apetorgbor explained.
According to him, the Controller and Accountant General’s Department faced timing issues during a week designated for salary payments, making it necessary to split the payment into five or six tranches. “We are in November, and not even one tranche has been received but the assurance was that they will try and pay one tranche in their week of salary payment and the rest will come before the end of October. Here we are, not even one of the tranches has been paid,” he added.
Dr. Apetorgbor criticized the Ministry of Finance for what he views as a lapse in transparency, saying, “It is unfortunate the Ministry of Finance has been reduced to an official propaganda office. It is such a sensitive office to be used for that. I will advise that whatever information the Finance Minister provides or shares with the public, kindly double check to ensure that you are dealing with the right information.”
Ghana’s energy sector has been battling ongoing debt challenges, which have impacted multiple Independent Power Producers (IPPs) supplying electricity to the national grid. Stakeholders are now calling for more transparency and prompt payments to avoid further disruptions in power generation and ensure the stability of the country’s energy supply.
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