Karpowership Ghana has started negotiations with the government to clear a huge debt of $379 million, complaining that delayed payments are severely affecting its operations. The company assured that it has been in negotiation with the Ministry of Energy and Green Transition for the arrears financial obligations. Karpowership threatened to disconnect the power supply if the power was not paid for by the government, but the Ministry of Energy assured that the power supply would not be disconnected.
Sandra Amarquaye, Karpowership Ghana's Communication Manager, said in an interview with Citi Business News that "we have negotiated with the Ministry of Energy on the outstanding debt, and negotiations are ongoing." She asserted that the interest of Karpowership is to maintain its deal with the country, repeating that it is imperative to pay off the financial concerns so that there can be a stable deal. This is where the energy industry in Ghana has been experiencing the pressure of mounting debts. Experts are flagging that unless issues like these funds are contained, they might stop power production and delivery.
We have also met with the Ministry of Green Transitions and Energy. We have tabled it and we are negotiating with the government for a green solution to the debt that was accumulated over the period," Amarquaye said. Sector Minister John Jinapor, according to Citi Business News, has intentions of settling the debt. And we ministry will try our best within our powers to see that we just do that. It is a burden as much as it is, but as much as it is, we have to deal with some issues. And that is what the ministry is going to do," Public Relations Officer of the Ministry Isaac Agyei Kwakye commented.
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