Minister of Energy and Finance engage Karpower on legacy debt

The Minister for Energy and Green Transition, John Abdulai Jinapor, met with Finance Minister Dr. Cassiel Ato Forson on Friday, May 2nd. They discussed Karpowership Co. Ltd.'s potential shutdown in Ghana.

The meeting took place at the Ministry of Finance in Accra. It was called due to Karpowership's threat to stop power supply. This threat arose from the government's failure to pay a long-standing debt.

Karpowership is crucial for Ghana’s electricity generation. The company claims it is owed about $400 million in unpaid legacy debt.

This situation has raised concerns among energy sector stakeholders. Karpowership plays a vital role in stabilizing the national grid.

The meeting aimed to resolve these issues and ensure continued electricity supply. However, it ended without a conclusive agreement.

Sources say some progress was made, but key issues remain unresolved. Both ministries and Karpowership officials plan to meet again on Monday, May 5th.

They hope to reach a compromise that prevents disruption of power supply. Ghana's independent power producer (IPP) debt is around $2 billion and threatens the energy sector significantly.