The Electricity Company of Ghana (ECG) has paid $30 million of the Sunon Asogli Power Limited’s $60 million debt.
On Citi Prime News on Friday, December 8, Managing Director of the Electricity Company of Ghana (ECG), Samuel Dubik Mahama, revealed that the payment was paid to Sunon Asogli on Thursday, December 7.
The electricity producer went out of business on Monday, December 4, citing the government’s failure to meet its financial obligations to power plants as the reason. However, it postponed its ruling for a week after receiving assurances from the government that the debt would be cleared.
According to Mr. Mahama, the ECG is dedicated to developing its partnership with all independent power producers.
He also stated that a second tranche of $30 million has been set aside for Sunon Asogli, with systems in place to ensure that payments are not delayed.
“Sunon Asogli has received $30 million from the government of Ghana and the conversations are far advanced for a second tranche of another $30 million to be paid to them and as it stands now, Sunon Asogli has always been an integral part of our growth.
“They are one of the first IPPs and they have always treated Ghana fairly when it comes to how they have structured their PPAs, they are very good partners that we intend to grow with so we have even come up with a new way to renegotiate our outstanding PPA to make it much more efficient and cheaper for the good people of Ghana.”
