"Sunon Asogli to Resume Operations as ECG Intensifies Debt Payments"

" Sunon Asogli to Resume Operations as ECG Intensifies Debt Payments \r\n\r\nSunon Asogli Power Ltd., one of Ghana\u2019s independent power producers (IPPs), is set to resume operations in the coming weeks following efforts by the Electricity Company of Ghana (ECG) to resolve financial challenges that led to the plant\u2019s shutdown.\r\n\r\nThe acting Managing Director of ECG, Ing. David Asamoah, disclosed this development during an appearance on JoyNews\u2019 Newsfile on Saturday, November 23, 2024.\r\n\r\nAccording to him, the utility company has adopted a weekly payment structure to clear its debts to Sunon Asogli and other IPPs.\r\n\r\n Steps Toward Resolution \r\n\r\nSunon Asogli ceased operations earlier this year due to ECG\u2019s inability to settle an outstanding debt of $259 million. However, Mr. Asamoah confirmed that ECG began weekly payments on October 8, 2024, as a sign of goodwill and commitment to resolving the financial impasse.\r\n\r\n\u201cSunon Asogli has gone off because of debts. But the good news is that they are going to be back in the coming weeks because we have almost resolved the issue,\u201d he said.\r\n\r\nAlthough Sunon Asogli initially delayed resuming operations due to insufficient payments, the ongoing financial arrangements signal progress toward restoring normalcy.\r\n\r\n Government Intervention \r\n\r\nThe Finance Minister, Dr. Mohammed Amin Adam, recently announced a renegotiated agreement between the government and Sunon Asogli aimed at addressing the financial disagreements that caused the shutdown.\r\n\r\nHe assured that the deal would stabilise Ghana\u2019s power supply.\r\n\r\n Broader Sector Challenges \r\n\r\nMeanwhile, the Chief Executive Officer of the Independent Power Producers, Dr. Elikplim Kwabla Apetorgbor, has raised concerns about mounting debts in the energy sector.\r\n\r\nSpeaking in an interview, he warned that three additional power plants might shut down if their outstanding payments are not addressed.\r\n\r\n\u201cIf nothing is done by the end of this week, next week, three key power plants will shut down,\u201d Dr. Apetorgbor cautioned.\r\n\r\nHowever, ECG has expressed confidence that these shutdowns will be averted, citing ongoing measures to clear debts and ensure continuous power supply.\r\n\r\n ECG\u2019s Commitment \r\n\r\nMr. Asamoah speaking further\u00a0during the interview, reiterated ECG\u2019s dedication to resolving the challenges, stating, \u201cWe have started paying to show that we are not just talking but are acting on what we agreed.\u201d\r\n\r\nThe efforts to address the debt crisis come at a critical time as Ghana\u2019s energy sector grapples with financial constraints, highlighting the importance of collaborative solutions to maintain stable power generation."

"Sunon Asogli to Resume Operations as ECG Intensifies Debt Payments"

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