The Government of Ghana has paid about US$937.5 million to independent power producers (IPPs) in the West African nation as excess capacity charges in the last four years.
The country’s Finance Minister, Ken Ofori-Atta who appeared before the country’s Parliament last Thursday to answer questions on payments to IPPs, told the lawmakers that the payments were made to three companies.
These were AKSA, which received US$347.2 million; Karpowership, which was paid US$359 million and Cenpower, which received US$231.3 million.
The present government of the West African nation has been lamenting over huge amount of money it pays on capacity charges due to a ‘take or pay’ agreement the then administration signed with the IPPs.