The Ministry of Finance says it has obtained the required Power Purchase Agreement, PPA approvals from the Public Utilities Regulatory Commission, PURC and the Attorney General for some Independent Power Producers, IPPs.
According to the Finance Minister, Dr. Amin Adam, some of the PPAs will need Parliamentary approval while others will not.
The Ministry also contends that it has fully paid some IPPs as per the agreed terms.
He was speaking at the Ministry of Finance’s press briefing in Accra.
” We are supposed to go to parliament to get all the approvals we need from the attorney general from the PURC to secure them. so it is left with the parliament process that we have to go through to finalise or bring the new power purchase agreement into effect. we are preparing to send it. we are not going to parliament on their case so that is sealed.
Then we also have Asogli, ECG has finalised negotiations with Asogli. they have just written a message to me to inform me, of the details of the negotiations and so that one is also not going to the parliament. in that case, once I am satisfied with the terms negotiated we will be done with Asogli. and there is also absa which is also not going to the parliament. we are done with that time with the IPPs,” The Minister said.
“We are hoping that when we go to the parliament we will get approval for the 3 that require parliamentary verification because of the amendments. the material changes that are occurring in the restructure and power purchase. We made some bullet payments and the Ministry of Finance has fully compiled. we have paid all those to thank the IPPs. They have made significant conceptions to the government as a result of which we were able to reach an agreement.
So we have done our part of the deal and they have also done their part of the deal but the process is a process so we need to take it to the parliament apart from those that are going to the parliament, the others are done with the deal, ” He added.
