The Independent Power Generators (IPGs) of Ghana have confirmed the payment of US$392,810,714 in legacy arrears owed to their member companies by the Government of Ghana as of the end of 2025.
Despite the settlement, this publication understands that the State still owes approximately US$1.1 billion to fully clear all outstanding debts owed to independent power producers.
According to the IPGs, the settlement of the arrears represents a major milestone in restoring financial stability and operational confidence across Ghana’s power sector.
In a statement, the group said the achievement reflects decisive leadership, disciplined fiscal management, and a clear commitment by government to resolving inherited structural challenges that have constrained the sector for several years.
The IPGs particularly recognised the strategic role played by the Ministry of Finance in mobilising and deploying significant financial resources to stabilise the sector, as well as the Ministry of Energy and Green Transition for the disciplined implementation of the Cash Waterfall Mechanism (CWM) and other reforms that have improved payment performance to service providers.
“These actions have sent a powerful signal to both domestic and international investors that Ghana is firmly committed to honouring its contractual obligations, strengthening sector governance, and rebuilding credibility in its power market,” the statement said.
“As a result, investor confidence in Ghana’s energy sector has been meaningfully restored, positioning the country to attract new capital, technology, and long-term partnerships,” it added.
The IPGs reaffirmed their unwavering commitment to Ghana’s energy security, economic transformation, and industrial development, pledging full cooperation with government and sector agencies to sustain reliable power supply, support ongoing reforms, and promote efficiency, transparency, and value for money across the power value chain.
“We remain confident that the collaborative spirit demonstrated in the resolution of these legacy arrears will continue to guide the Government–IPG partnership toward a future of energy sustainability, financial discipline, and shared prosperity for the people of Ghana,” the statement concluded.
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