Energy Minister John Abdulai Jinapor and Finance Minister Dr. Cassiel Ato Forson held a crucial meeting with officials from Karpowership Co. Ltd. on May 2, 2025, following the company’s threat to suspend operations in Ghana due to unpaid debts.
The meeting, convened at the Ministry of Finance in Accra, was prompted by Karpowership’s warning that it could halt power supply if the government fails to settle its outstanding debt, reportedly amounting to around $400 million.
Karpowership, a key player in Ghana’s electricity generation and grid stabilization, has expressed frustration over the government’s delay in clearing the arrears.
The company’s threat has raised significant concerns within the energy sector, given its critical role in maintaining the stability of the national power grid.
Despite the urgency of the situation, the meeting concluded without a definitive resolution. However, sources close to the discussions indicated that some progress had been made, although key issues remain unresolved.
In light of this, both ministries and Karpowership officials have agreed to reconvene on Monday, May 5, 2025, to continue negotiations and seek a compromise that could avert a disruption in power supply.
The ongoing debt crisis among Independent Power Producers (IPPs), currently totaling about $2 billion, continues to pose a major challenge for Ghana’s energy sector.
