Karpowership Ghana in Talks with Government to Settle $379 Million Debt

Karpowership Ghana has initiated negotiations with the Government of Ghana to resolve its accumulated debt of $379 million. The power-producing company has indicated that discussions are ongoing with the Ministry of Energy and Green Transition to find a sustainable solution to the financial obligation.

Karpowership Ghana, a major player in the country’s power supply, has warned that it may be forced to suspend electricity supply if an agreement is not reached. This development has raised concerns about potential power shortages, making the negotiations crucial for Ghana’s energy security.

During an interview with Citi Business, Sandra Amarquaye, Communications Manager for Karpowership Ghana, explained the urgency of the discussions.

“We had a meeting with the Ministry of Energy and Green Transition to bring the issue to their attention. We’re currently negotiating with the government for a sustainable solution to the debt accrued over time,” she stated.

Reacting to the issue, Isaac Agyei Kwakye, Public Relations Officer of the Energy Ministry, assured Ghanaians that the government is committed to resolving the situation to avoid any disruptions in power supply.

“As a ministry, we’ll do everything in our power to ensure a resolution. Although it’s a burden, we need to find solutions, and that’s exactly what the ministry is determined to do,” he stated.

Karpowership Ghana plays a significant role in Ghana’s electricity generation, and any disruption in its operations could lead to power shortages. The ongoing negotiations are expected to prevent such an outcome while ensuring that both parties reach a mutually beneficial agreement.

With Ghana’s energy sector facing financial pressures, stakeholders will be watching closely to see how the government navigates this challenge. The outcome of these talks will determine whether Karpowership continues to supply power uninterrupted or whether Ghana could face another energy crisis.

As the negotiations continue, both Karpowership Ghana and the government are under pressure to find a lasting solution. Ghanaians will be hoping for a positive resolution to prevent any power disruptions that could impact businesses and households across the country.