Sunon Asogli Yet to Receive Promised $30 Million Amid Government Payment Delays
Independent Power Producer (IPP), Sunon Asogli Power Ghana Limited, has stated that it has yet to receive any portion of the $30 million promised by the Ministry of Finance, even though the Controller and Accountant General’s Department (CAGD) was reportedly directed to facilitate the payment.
The development follows Sunon Asogli’s recent decision to shut down its 560MW power plant in response to a significant debt of $259 million owed by the Electricity Company of Ghana (ECG).
The power provider’s move to suspend operations underscores the deepening financial strain within Ghana’s energy sector, where longstanding debt issues continue to disrupt supply chains and risk further operational halts.
Dr. Elikplim Apetorgbor, Business Development Manager at Sunon Asogli, in an interview, expressed frustration over the delayed payments. He detailed how assurances of financial relief by the Finance Ministry have failed to materialize.
“We received notification from the Controller and Accountant General’s Department in the first week of our shutdown. They informed us that the Ministry of Finance authorized them to pay us $30 million. But they are having some challenges,” Mr Apetorgbor noted.
According to him, the $30m payment authorization coincided with government salary disbursements explaining that the amount was to be split into multiple tranches, with at least one tranche expected by the end of October. However, as of November, no payment has been made.
“The payment was to be made in the week of salary payments and they have to split this payment into five or six tranches. We are in November, and not even one tranche has been received but the assurance was that they will try and pay one tranche in their week of salary payment and the rest will come before the end of October. Here we are, not even one of the tranches has been paid,” he remarked.
Mr Apetorgbor further criticized the Ministry of Finance, urging greater accuracy in its public statements to avoid misleading stakeholders.
“It is unfortunate the Ministry of Finance has been reduced to an official propaganda office. It is such a sensitive office to be used for that,” he remarked, advising the public to double-check information issued by the Finance Minister to ensure its reliability.
Finance Ministry Approves $30 Million Payment to Sunon Asogli Amid Power Sector Debt Crisis
The Ministry of Finance last week directed the Controller and Accountant General to disburse $30 million to Independent Power Producer, Sunon Asogli, under a new agreement aimed at resolving the debt issues that led to the shutdown of its 560-megawatt power plant.
The move was amid growing concerns that Ghana could face a resurgence of “dumsor,” a term used to describe prolonged power outages, with potentially severe impacts on the national economy.
The shutdown by Sunon Asogli, triggered by a $259 million debt owed by the Electricity Company of Ghana (ECG), underscores the financial challenges within the power sector.
Ghana’s energy sector has been under considerable pressure as debts continue to mount, severely impacting IPPs that supply power to the national grid.
In light of these challenges, energy stakeholders have advocated for enhanced transparency and prompt payments to prevent future shutdowns and secure the country’s energy stability.
