Finance Ministry has said prudent steps taken by the government in the energy sector has saved the sector over US$5 billion.
In a statement dated December 3, 2020, the Finance Ministry said it made the savings by relocating the Karpowership and securing agreements with CENIT Power Limited.
“In 2020 alone, this government has paid in excess of US$1 billion to Independent Power Producers. This is on top of GH¢2.7 billion paid by Electricity Company of Ghana Limited,” the Finance Ministry said.
The statement said the government was committed to undertaking the Energy Sector Recovery Programme (ESRP) in good faith and in partnership with its stakeholders.
“Government welcomes the collaboration and commitment shown by Independent Power Producers (IPPs) so far and calls for their support in bringing the negotiations to a swift close,” the statement said.
The IPPs had earlier threatened to withdraw their services over government and ECG indebtedness to them.
But according to the statement from the Finance Ministry, the energy sector in Ghana is faced with several challenges and many of them were inherited by the current government from the previous administration.
Source: ghanaweb
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