Energy and finance ministers meet Karpowership officials to avert power shutdown over $400 million debt
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 its operations in Ghana due to unpaid debts.
The meeting, convened at the Ministry of Finance in Accra, was sparked by Karpowership’s warning that it could halt power supply if the government does not settle its outstanding debt, reportedly around $400 million.
Karpowership, a vital player in Ghana’s electricity generation and grid stabilization, has expressed frustration over the government’s failure to clear the arrears.
The threat raised significant concerns within the energy sector, given the company’s essential role in maintaining the national power grid.
Despite the urgency of the situation, the meeting ended without a resolution. However, sources close to the discussions revealed that some progress had been made, although critical 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 prevent a disruption in power supply.
The ongoing debt crisis among Independent Power Producers (IPPs), which totals about $2 billion, remains a major challenge for Ghana’s energy sector.
