Sunon Asogli Power Ghana Limited has shut down its 560MW combined-circled power plant in Kpone over US$259 million debt owed it by the Electricity Company of Ghana (ECG).
An official of the company told The Chronicle that Sunon Asogli shut down the plant on 8th October, 2024 as it had no other option than to do so, after all diplomatic efforts to get the debt settled yielded no result.
“Since then, the government has not made any attempt to meet Sunon Asogli to discuss the way forward to settle the debt,” the official told The Chronicle on the telephone, on Wednesday evening.
The official said the huge debt owed it by the ECG has crippled the operations of Ghana’s largest Independent Power Producer (IPP).
He added, “Despite Sunon Asogli’s decision not to invoice ECG for idle capacity, the debt owed has increased by 23 per cent between January and September 2024, with only 22.6 per cent of the invoices for that period settled through the Cash Waterfall Mechanism.
“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 US$259 million, as of the end of September 2024.”
