The Chief Executive Officer of the Independent Power Generators Ghana (IPGG), Dr. Elikplim Apetorgbor, has commended the government for making significant progress in settling long-standing energy sector debts, describing the move as a positive signal for stability in the power industry.
His comments follow the Ministry of Finance’s announcement that as of December 31, 2025, the John Dramani Mahama administration had paid a total of US$1.47 billion toward rescuing and resetting the energy sector.
This includes about US$393 million in legacy debts paid to Independent Power Producers (IPPs) in 2025 alone, after the successful renegotiation of all IPP agreements to secure better value for money.
Speaking on Citi Prime News, Dr. Apetorgbor praised the government for honouring its commitments, describing the engagement with IPPs as cooperative and constructive.
He specifically lauded the Minister for Finance and the Minister for Energy for what he termed a display of good leadership in addressing the sector’s challenges.
Providing further insight into the debt situation, Dr. Apetorgbor explained the impact of the renegotiation process and recent payments on outstanding liabilities.
“At the beginning of 2025, our accounts show about US$1.82 billion. Out of that we have given up about US$300 million in the renegotiation, so that brought the actual debt to about US$1.5 billion.
“Last year from June, up to the end of the year, government has disbursed close to US$400 million so I can say we have about US$1.1 billion to go. It is a process and I believe that government is committed to it to ensure full settlement. As part of the renegotiation, we have the understanding that this debt will be settled within three to four years. We are okay with that. We believe that this year a similar thing will be done.”
Dr. Apetorgbor further noted that given the government’s current posture and policy direction, the likelihood of Independent Power Producers shutting down their plants has significantly reduced.
He stressed that sustained commitment to monthly invoice payments and improved revenue collection by the Electricity Company of Ghana (ECG) would be critical to preventing future debt build-up and ensuring long-term stability in the power sector.
“They are very strict in ensuring that ECG collects more revenue and the Cash Waterfall is sure accurate and fair disbursement of the revenue collectors. The target is to ensure 100% settlement of the invoices that are presented every month so if this is committed to, we don’t expect debt accumulation again,” he stated.
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