Ghana’s Finance Minister, Dr. Mohammed Amin Adam, has announced that the government has reached debt restructuring agreements with five Independent Power Producers (IPPs).
This milestone follows recent agreements with official creditors and Eurobond holders.
The agreements with Amandi, Cenpower, Early Power, CENIT, and AKSA are part of the Energy Sector Recovery Programme (ESRP), aimed at restructuring over $1 billion in legacy debt and reforming Power Purchase Agreements (PPAs).
The government has paid $400 million to IPPs, demonstrating its commitment to resolving the issue. The next steps include securing parliamentary approval for some agreements and finalizing negotiations with remaining IPPs.
The restructuring effort is a key component of Ghana’s economic recovery plan under the IMF-supported program, aiming to create a more sustainable and efficient energy ecosystem. Successful implementation will be crucial, and the government is optimistic about the agreements paving the way for a more robust and efficient power industry in Ghana.
