Sunon Asogli Power (Ghana) Limited has announced that it has suspended operations since Tuesday, October 8, 2024.
In a statement issued on Wednesday, October 16, the power company said this was due to the inability of the Electricity Company of Ghana (ECG) to pay its overdue $259 million debt.
This, it said, has left Sunon Asogli unable to carry out its operations.
“Sunon Asogli Power (Ghana) has over the years been very considerate in its dealings with ECG and the government, and, unlike other independent power producers, has not even invoiced ECG for accrued idle capacity charges. Despite this, ECG owes Sunon Asogli a net (excluding fuel) receivable amount of $259 million as of the end of September 2024.
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“Our debt has grown by 23% on the net balance, between January 2024 and September 2024 and only 22.6% of the invoices for the period have been paid by ECG from the Cash Waterfall Mechanism,” the statement added.
The company expressed deep regret over the impact of the shutdown on Ghanaians while calling on the Ministry of Finance to intervene in order to resume operations as soon as possible.
In December 2023, the company suspended another shutdown of its plant over the government’s delay in honouring its financial obligations.
The independent power producer called off the indefinite shutdown of the plant due to the intervention and assurance from the Minister of Finance and a Minister of State to settle unpaid invoices.
Below is the full statement
