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Gov’t on course to settle $1 billion debt to Independent Power Producers

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The Ministry of Energy says government is on course with the settlement of 1 billion debt owed Independent Power Producers (IPPS), and does not expect them to withdraw their services soon.

According to the Head of Communications at the Ministry, Nana Oppong Damoah, government had scheduled payment arrangement with the IPPs which were being honored to the satisfaction of the IPPs.

He said, government is, therefore surprised at the notice from the Chamber of Independent Power Producers, Distributors and Bulk Consumers (CIPDIB-Ghana), that it would withdraw its services over the debt.

Mr. Damoah, however, went short of mentioning payments made so far or the value of the latest payment except to say that the IPPs were happy about the ongoing agreements.

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