In Ghana, the power plant belonging to Togbe Afede and his partners, Sunon Asogli Power Ltd has announced the shutdown of its operations due to the inability of the Electricity Company of Ghana (ECG) to pay its $259 million debt.
In a statement released on October 16, 2024, the Company said it was compelled to shut down on October 8, at 5 PM due to the debt.
The statement further explained that Sunon Asogli Power has over the years been very considerate in its dealings with the ECG and the government and, unlike other independent power producers, has not invoiced ECG for accrued idle capacity charges.
The Company lamented that its debt has grown by 23% on the net balance, between January 2024 and September 2024 and only 22.6% of the invoices for the period has been paid by ECG from the Cash Waterfall Mechanism.
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