Chief Executive Officer of the Independent power producers assoiciation has come to the aid of Sunon Asogli Power (Ghana) Limited debunking claims from the Finance Minister Dr. Mohammed Amin Adam stating government has reach an agreement with the IPP to resume operation soon.
CEO Dr. Elikplim Apetorgbor, added that there has never been any agreement after the IPP shut down its 560-megawatt power plant amid debt crisis.
According to Dr. Elikplim Apetorgbor, government has not renegotiate terms with Sunon Asogli to start producing power. He noted that the recent power outage ‘dumsor’ is due to the continued escalating operational costs and insufficient working capital.
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“I am not aware when we have agreed to sign restructuring terms with anyone. We are still negotiating. No one goes into a negotiation to lose. It is always a win-win affair. And he [Amin Adam] has always maintained a position that if you will not accept this, I am not going to pay you. And even if we are signing, what it means is that we have reached a meeting point. But to the best of my knowledge, there is nothing like that. We are not there yet.
“He [the Finance Minister] has promised countless times to make payment to Sunon Asogli but he has not honoured those obligations or those promises. But today he’s saying that somebody is acting in bad faith. What is worse than that? You owe me about $259 million.
“Give me $60 million out of that for us to negotiate about the $2 million. And you are saying this is bad faith. We are faced with a challenge. We lack the working capital to resume operation or to continue operation, he reiterated to citinews”
