The Government of Ghana has paid approximately US$1.47 billion to clear accumulated energy sector debts, restoring financial stability to the sector as of December 31, the Ministry of Finance announced in a statement on Monday.
The cleared obligations include a US$597.15 million World Bank guarantee, US$480 million owed to gas suppliers ENI and Vitol, and US$392.8 million owed to nine Independent Power Producers (IPPs) operating in the country.
According to the Ministry, these debts posed some of the gravest risks to Ghana’s fiscal and financial stability.
In a detailed breakdown, the Ministry of Finance stated that Karpowership Ghana Co. Ltd received US$120 million; Cenpower Generation Co. Ltd, US$59.44 million; Twin City Energy (Amandi), US$37.99 million; Early Power Ltd, US$42 million; BXC Company Ltd, US$10.56 million; Meinergy Technology, US$8.82 million; Sunon Asogli Power Ghana Ltd, US$54 million; AKSA Energy Limited, US$30 million; and Cenit Energy Ltd, US$30 million.
The Ministry also disclosed that government has held constructive engagements with Tullow Ghana Limited and its Jubilee Field partners, agreeing on a comprehensive roadmap to guarantee full payment for all gas off-taken.
“Beyond clearing inherited arrears, and through the disciplined implementation of the Cash Waterfall Mechanism by the Ministry of Energy, Government has remained current on nearly all IPP invoices for 2025 and is firmly committed to further improving payment performance across all IPP obligations going forward,” the Ministry said.
The Ministry added that government will continue to enforce fiscal discipline in the energy sector, assuring stakeholders that the era of uncontrolled debt accumulation has come to an end.
The Government of Ghana reassured the general public, industry stakeholders, and international partners of its commitment to sustaining financial discipline and long-term stability in the energy sector.
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