Three Power Plants at risk of shutdown due to $259 million debt

The Chief Executive Officer of the Independent Power Producers (IPP), Dr. Elikplim Apetorgbor, has issued a stark warning about the imminent shutdown of three critical power plants due to escalating unpaid debts.

Dr. Apetorgbor disclosed that the government, through the Electricity Company of Ghana (ECG), has failed to settle a $259 million debt owed to the IPPs. This revelation coincides with President Akufo-Addo’s recent commissioning of the Bridge Power Project, a facility aimed at addressing power shortages in the energy sector.

In an interview with Citi Business News on Tuesday, November 19, Dr. Apetorgbor called for urgent government intervention to avert the looming crisis, emphasizing the need for immediate payment of the outstanding debts to ensure the stability of energy production.

“I can confirm that all is not well. If there is no intervention before Friday, I can tell you that by Monday, three key power plants will be off the grids. It is a serious matter, it is not fun,” he cautioned.

He further expressed skepticism about repeated government promises to resolve the debt crisis, stating, “We have received these assurances severally, so this can’t sway us. We are resolute.”

Dr. Apetorgbor also criticized President Akufo-Addo’s assertion that the Bridge Power Project’s commissioning would end the country’s recurring energy challenges, commonly referred to as dumsor.

“To say that the commissioning of this plant is going to put dumsor to rest, I find it difficult to relate,” he remarked.

The situation underscores the precarious state of Ghana’s energy sector, as stakeholders await decisive action to prevent a potential power supply disruption.