The Independent Power Generators, Ghana (IPGG) has confirmed that the Government of Ghana has successfully settled a substantial portion of the long-outstanding legacy arrears owed to power generation companies.
In a statement issued on Monday, January 12, the IPGG commended the government, through the Ministry of Finance and the Ministry of Energy and Green Transition, for what it called “decisive leadership and disciplined fiscal management” in resolving inherited debts that have constrained the sector for years.
The payments, made during the 2025 fiscal year, form part of a broader financial injection of approximately US$1.470 billion aimed at rescuing and restoring stability to the country’s energy sector.
A detailed breakdown shows that US$392.8 million was allocated to settle specific legacy debts owed to nine Independent Power Producers (IPPs). The beneficiaries include:
- Karpowership Ghana Co. Ltd – US$120,000,000
- Cenpower Generation Co. Ltd – US$59,444,180
- Sunon Asogli Ghana Ltd – US$54,000,000
- Early Power Ltd – US$42,000,000
- Twin City Energy (Amandi) – US$37,986,534
- AKSA Energy Limited – US$30,000,000
- Centi Energy Ltd – US$30,000,000
- BXC Company Ltd – US$10,560,000
- Mcinergy Technology – US$8,820,000
The IPGG highlighted the strategic role of the Ministry of Finance in mobilising resources and praised the Ministry of Energy for the “disciplined implementation of the Cash Waterfall Mechanism,” which has improved payment flows to service providers.
