Sunon Asogli power (Ghana) has shut down the operation of its 560MW power plant over debt Electricity Company of Ghana (ECG) owes it.
In a press release issued on October 16, 2024, management indicates that they are unable to fund their operations hence the shut down.
“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.
“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,” portion of the release read.
Read the full release below;
Sunon Asogli
