adverts
Ghana is on the brink of a power crisis as Karpowership, the operator of the floating power plant at Aboadze in the Western Region, has threatened to halt operations over an outstanding $379 million debt owed by the Electricity Company of Ghana (ECG).
The looming crisis was revealed during a high-level meeting on Monday between the Minister of Energy and Green Transition, John Abdulai Jinapor, and officials from Karpowership at the ministry.
In an effort to avert a potential shutdown, Minister Jinapor appealed to Karpowership to exercise patience while the new administration explores ways to settle the outstanding debt.
adverts
“We acknowledge the severity of the situation and are committed to finding a sustainable solution to address the financial obligations. We appeal to our partners to bear with us as we navigate these challenges,” the minister assured.
Despite this plea, industry analysts warn that if Karpowership follows through with its threat, Ghana could face severe power shortages, disrupting businesses, industries, and households. The country’s energy sector is already burdened with mounting financial difficulties, with total debts exceeding $3 billion as of January 12, 2025.
The International Monetary Fund (IMF) has repeatedly cautioned that without urgent reforms, Ghana’s energy sector is at risk of collapse. The IMF has urged the government to implement cost-cutting measures, enhance revenue collection, and restructure power agreements to ensure long-term financial sustainability.
As the government scrambles to find a solution, Ghanaians brace for potential power outages, raising concerns about economic productivity and the stability of the national grid.
Click the link Puretvonline.com | WhatsApp Channel to join the WhatsApp channel
GOT A STORY?
Contact/WhatsApp: +233243201960 or Email: manuelnkansah33@gmail.com
