Independent power producer Sunon Asogli Power (Ghana) Limited has refuted accusations of “bad faith” made by Finance Minister Dr. Mohammed Amin Adam following the company’s decision to close its 560-megawatt power plant.
Sunon Asogli attributed the shutdown to an unpaid debt of $259 million, excluding fuel costs, owed by the Electricity Company of Ghana (ECG) as of September 2024.
This debt created severe financial strain, leaving the company unable to sustain normal operations.
The closure has contributed to power disruptions across various regions, prompting the government to expedite negotiations with Sunon Asogli to restore power stability.
The company emphasized that halting operations was necessary due to rising operational costs and insufficient working capital.
Dr. Elikplim Apetorgbor, CEO of the Independent Power Producers’ Association, defended Sunon Asogli, highlighting that the company had few options due to the government’s failure to meet its financial commitments.
He further noted that despite ongoing negotiations, no agreement has been finalized, and promised payments remain unfulfilled.
Sunon Asogli leadership reaffirmed their willingness to engage in negotiations to address the debt issues and ensure stable power for the nation.
