The Independent Power Generators (IPGs) in Ghana have commended the John Mahama government for clearing a substantial portion of legacy arrears owed to power generation companies.
According to the Independent Power Generators, the clearance of the legacy arrears is a major step towards stabilising Ghana’s energy sector.
This follows the Ministry of Finance announcing and sharing a total breakdown of the Government of Ghana’s US$393 million payment to Independent Power Producers (IPPs) in 2025 as part of the energy sector reset.
In a statement issued on January 12, 2026, the Ministry revealed, Mahama-led administration has paid a total of US$1.47 billion within its first year in office to settle Ghana’s energy sector.
The beneficiaries of the payments include Karpowership Ghana Limited, Cenpower Generation Company, Asogli Power and others.
The Finance Ministry, in a Press release, stated, “In 2025 alone, the government paid approximately US$393 million in legacy IPP debts, further anchoring the gains made in restoring stability to the sector”.
Altogether, the Ministry of Finance has paid approximately US$1.470 billion in the 2025 fiscal year to rescue and restore Ghana’s energy sector.
Beyond clearing inherited arrears, and through disciplined implementation of the Cash Waterfall Mechanism by the Ministry of Energy, Government has remained current on largely all IPP invoices for 2025 and is firmly committed to further improving payment performance across all IPP obligations going forward. 16. The Government of Ghana assures the general public, industry stakeholders, and international partners that the era of uncontrolled energy sector debt accumulation is over”.
See the detailed breakdown of payments below:
• Karpowership Ghana Co. Ltd – US$120,000,000
• Cenpower Generation Co. Ltd – US$59,444,180
• Twin City Energy (Amandi) – US$37,986,534
• Early Power ltd – US$42,000,000
• BXC Company Ltd – US$10,560,000
• Meinergy Technology – US$8,820,000
• Sunon Asogli Ghana Ltd – US$54,000,000
• AKSA Energy Limited – US$30,000,000
• Cenit Energy Ltd – US$30,000,000
TOTAL – US$392,810,714
The IPGs, in a statement, praised the Ministry of Finance and the Ministry of Energy and Green Transition for ensuring the timely settlement of the arrears.
Their statement stated, “The clearance of these long-outstanding obligations represents a major milestone in restoring financial stability and operational confidence across the power sector”.
They further acknowledged the government, “decisive leadership, disciplined fiscal management, and a clear commitment by the government to resolving inherited structural challenges”.
“These actions have sent a powerful signal to both domestic and international investors that Ghana is firmly committed to honouring its contractual obligations,” the statement added.
“As a result, investor confidence in Ghana’s energy sector has been meaningfully restored, supporting economic transformation and industrial development,” they said.
“We remain confident that the collaborative spirit demonstrated in the resolution of these legacy arrears will continue to guide the government-IPG–IPG partnership towards a future of energy sustainability, financial discipline, and shared prosperity for the people of Ghana,” the statement concluded.
See the statement below:
