Management of Sunon Asogli Power (Ghana) Limited has said that they have been compelled to suspend operations since Tuesday, 8th October 2024.
This is contained in a press release dated October 16.
According to the company, this decision has been necessitated by the indebtedness of the Electricity Company of Ghana to them.
“The shutdown happened at 5 PM that day. This difficult decision was necessitated by our inability to fund our operations because of the failure of the Electricity Company of Ghana to honour their overdue payment obligations and their various promises to that effect,” Chairman of the company Qun Yang wrote
” 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 $259 million as at the end of September 2024,” he added.
The Chairman lamented that “Our debt has grown by 23% on the net balance, between January 2024 and September 2024 and only 22.6% of the invoices for period has been paid by ECG from the Cash Waterfall Mechanism.”
He expressed regret over the impact of this decision on the national power supply.
” We expect the Ministry of Finance to intervene for us to return to operations as soon as possible,” Mr. Yang urged.
Speaking in an interview on 3FM’s Hot Edition, a former Minister of Power, Dr Kwabena Donkor said, “this will affect power supply. Sunon Asogli is the largest single Independent Power Supplier.”
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