We’ve reached agreement with five IPPs, says Amin Adam

The Minister for Finance, Mohammed Amin Adam, has announced that the Government of Ghana and five  independent power producers (IPPs) have reached an agreement to restructure the debt owed.

Speaking at a joint IMF/Ministry of Finance news conference in Accra on Monday (1 July), Amin Adam said “We have seven IPPs and we’ve reached agreement with five of them.”

A government negotiation team was mandated to restructure the legacy debt owed to the IPPs, namely Aksa, Amandi, Cenit, Cenpower, Karpowership, Early power and Sunon Asogli.

He added, “That is very positive for our country. It tells us of the past because we are committed to implementing the terms of this agreement. We already have started performing on our side, and to date, government has paid in excess of US$400 million to all IPPs as part of our performance of the agreement that we just reached.”

However, the Finance Minister advised that in future, the chamber be well informed as “it is not in our interest to always go there with false or negative information.”

“And therefore, for a chamber representing IPPs not to be informed about these developments and to issue a statement on behalf of the IPPs without consulting with them is really unfortunate. What for? What do we want to achieve?”

“Should it not be in our interest as a country that government has worked tirelessly to reach agreement with IPPs? Is it not in our interest as a country?” he added.

Amin Adam stated that the agreement will allow the power industry and everyone in Ghana to continue to enjoy reliable power supply in the future.

He added, “For once, let’s see each other as partners in development and work together to develop our country for the benefit of our people. If we do not reach agreement, does that amount to not reaching agreements with IPPs? Five out of seven? And the headline out there is that government lied. Why would the government lie?”

Asaase Broadcasting Company airs on Asaase 99.5 Accra, Asaase 98.5 Kumasi, Asaase 99.7 Tamale, Asaase 100.3 Cape Coast, AsaasePa 107.3 (Accra).
Affiliates: Azay FM 89.1 (Takoradi), Bawku FM 101.5, Bead FM 99.9 (Bimbilla), Mining City Radio 89.5 (Tarkwa), Nyatefe Radio 94.5 (Dzodze), Somuaa FM 89.9 (Gushegu), Stone City 90.7 (Ho) and Wale FM 106.9 (Walewale).
Listen online: asaaseradio.com, Sound Garden and TuneIn.
Follow us:
X: @asaaseradio995, @Asaase985ksi, @Asaase997tamale, @asaase1003, asaasepa1073
Instagram: asaaseradio99.5, asaase985ksi, asaase100.3, asaase99.7tamale, asaasepa107.3
LinkedIn: company/asaaseradio995. TikTok: @asaaseradio99.5, Facebook: asaase99.5, asaase985ksi, Asaase100.3, asaase99.7, AsaasePa107.3.
YouTube: AsaaseXtra.
Join the conversation. Accra: call 020 000 9951/054 888 8995, WhatsApp 020 000 0995. Kumasi: call 059 415 7985 or call/WhatsApp 020 631 5260. Tamale: call/WhatsApp/SMS 053 554 6468. Cape Coast: call/WhatsApp 059 388 2652.
#AsaaseRadio
#AsaasePa
#TheVoiceofOurLand

The post We’ve reached agreement with five IPPs, says Amin Adam appeared first on Asaase Radio.