- Ghana, Sunon Asogli Reach Power Deal
- $259M Debt Settlement to Restore 560MW Power Plant
- Power Supply to Stabilize
A newly renegotiated agreement between the Ghanaian government and Independent Power Producer, Sunon Asogli, is expected to bring stability to the country’s power supply. Finance Minister Dr. Mohammed Amin Adam announced the deal, aimed at resolving power disruptions caused by a financial dispute between Sunon Asogli and the Electricity Company of Ghana (ECG).
The 560-megawatt Sunon Asogli power plant was shut down on October 16 due to ECG’s outstanding debt of $259 million, excluding fuel costs, as of September 2024. This led to widespread power outages across various regions in Ghana, affecting numerous communities.
Dr. Amin Adam confirmed the agreement at a media briefing on October 28, assuring improved power stability. He emphasized that this deal represents a critical step in addressing energy challenges and ensuring consistent electricity supply.
The agreement is part of a larger restructuring initiative involving other Independent Power Producers (IPPs), demonstrating the government’s commitment to achieving long-term stability in Ghana’s energy sector.
“We have continued to produce power. I was informed [Sunday] that they [Sunon Asogli] are ready to sign the settlement agreement. And so we have instructed ECG to go ahead and sign,” Dr. Amin Adam stated.
“That should help in normalising our relationship so we can move on. And so signing that agreement will also mean that the third IPP is also done as far as the restructuring is concerned.”
