Sunon Asogli Power (Ghana) Limited has announced the shutdown of its 560MW power plant, citing the Electricity Company of Ghana’s (ECG) failure to meet overdue payment obligations. This situation has left Sunon Asogli unable to fund its operations.
In a statement issued on October 16, 2024, the company revealed that ECG owes a net receivable of $259 million (excluding fuel) as of the end of September 2024. Despite not invoicing ECG for idle capacity, the outstanding debt has increased by 23% from January to September 2024, with only 22.6% of invoices settled through the Cash Waterfall Mechanism during that time.
The shutdown of the Power Plant will inevitably impact the national power supply, and Sunon Asogli has expressed regret over the situation. The company is now calling on the Ministry of Finance to intervene and help resolve the issue, enabling a swift resumption of operations.
SOURCE: http://dew360.net
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