Board Chairman of Cenpower Generation Company Limited, operators of the Kpone Independent Power Plant, says as government works around the clock to beat down the cost of power from Independent power producers (IPPs) the cash flow of companies also needs to be prioritized.
In the past three weeks, government has agreed new power purchase agreements with Cenpower and CENIT Energy Limited which are expected to save the country $ 3 billion dollars and $ 200 million dollars respectively over the remaining life of the agreements with the two companies.
While expressing support for government’s attempts at securing better deals with the IPPs, the Board Chairman of CENPOWER, Samuel Nana Brew-Butler, said the IPPs should not lose out in the long-term.
“My only concern is that we should get the commensurate commercial considerations. I’m saying that I have a plant to run, I have staff we have engaged and therefore cash flow is very important for us.”
Gov’t makes significant savings in gas supply agreement with Cenpower
Government and Cenpower Generation Company Limited (Cenpower), a major power producer in Ghana, have successfully secured terms for a gas supply agreement, GSA.
According to the agreement, Cenpower Generation Company Limited (Cenpower), has committed to switching its primary fuel from light crude oil to natural gas, and signed a gas supply agreement with the Ghana National Petroleum Corporation (GNPC).