Ghana faces an imminent energy disaster as Karpowership, the operator of a floating energy plant at Aboadze within the Western Area, has threatened to halt operations.
Their resolution stems from a large $379 million debt owed by the Electrical energy Firm of Ghana (ECG).
This alarming improvement was revealed throughout a gathering on Monday, between the Minister of Power and Inexperienced Transition, John Abdulai Jinapor, and officers of Karpowership on the ministry.
In response to the looming shutdown, Mr Jinapor pleaded with Karpowership to train restraint whereas the brand new administration explores methods to clear the excellent debt.
“We acknowledge the severity of the state of affairs and are dedicated to discovering a sustainable resolution to handle the monetary obligations. We enchantment to our companions to bear with us as we navigate these challenges,” the minister acknowledged.
Nevertheless, business analysts warn that if Karpowership proceeds with its menace, Ghana may expertise extreme energy shortages, probably affecting companies, industries, and households.
The vitality sector has been grappling with a rising monetary burden, with complete money owed surpassing $3 billion as of January 12, 2025.
The Worldwide Financial Fund (IMF) has repeatedly warned that with out pressing reforms, the sector faces imminent collapse.
The IMF has suggested the federal government to implement cost-cutting measures, enhance income assortment, and restructure energy agreements to make sure monetary sustainability.
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