- Ghana govt. conserves over $13bn from power deals with IPPs.
Ghana’s Finance Minister, Ken Ofori-Atta, has announced that the country has saved USD 13.2 billion from renegotiated power deals with six Independent Power Producers (IPPs). In his announcement, the IPPs included Karpower, Cenpower, Early Power, Twin City Energy (formerly Amandi), AKSA Energy and Cenit.
“These renegotiated agreements are expected to have savings estimated at $13.2 billion over the life of the PPAs through a combination of reduced capacity and energy charges. In other words, we are saving the Ghanaian taxpayer $13.2 billion from power contracts signed by the previous administration,” Mr Ofori-Atta explained at parliament on Monday during the Mid-Year Budget presentation.
He maintained that the renegotiated deal provides balanced, sustainable energy partnerships that have led to affordable power for industrial, commercial and residential use.
Speaking on occurrences in the energy sector, Mr Ofori-Atta said the raft of sanctions imposed on Russia is tightening supply conditions for energy products. In response, he stated that the government is closely monitoring the stock of products at all depots.