Sunon Asogli Power (Ghana) Limited has announced the suspension of operations at its 560MW power plant due to the Electricity Company of Ghana (ECG) failing to meet its overdue payment obligations.
This shutdown leaves Sunon Asogli unable to sustain its operations, significantly impacting the national power supply.
In a statement released on October 16, the company revealed that as of the end of September 2024, ECG owes a net receivable amount of $259 million (excluding fuel costs).
This debt has escalated by 23% from January to September 2024, with only 22.6% of the invoices for that period settled via the Cash Waterfall Mechanism.
“Sunon Asogli Power (Ghana) has always been considerate in its dealings with ECG and the government,” the statement read.
“Unlike other independent power producers, we have refrained from invoicing ECG for accrued idle capacity charges. Despite this, the debt continues to mount.”
The company expressed deep regret over the decision to halt operations, acknowledging the negative repercussions on the national grid.
“We had no viable alternative but to take this step,” the statement emphasized.
Sunon Asogli has called on the Ministry of Finance to intervene urgently and facilitate a resolution that will enable the company to resume operations promptly.
The shutdown underscores the growing financial strain within Ghana’s energy sector, raising concerns about the sustainability of power generation in the country.
As the situation develops, stakeholders in the energy sector are urged to engage in discussions aimed at resolving the underlying financial issues that have led to this critical juncture.
