Tag: Independent Power Producers
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Cash flow is important for IPPs – Cenpower Board Chair to Gov’t
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…
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We’re ready to receive GNPC Gas and save Gov’t money – Cenpower
The Board Chairman of Cenpower Generation Company Limited, operators of the Kpone Independent Power Plant, has assured of his outfit’s readiness to receive and use gas from the Ghana National Petroleum Corporation (GNPC) as part of a new agreement with government, which is expected to lead to savings of about $ 3 billion dollars over…
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Government secures amended power purchase agreement with CENIT Energy
Government and CENIT Energy Limited (CEL), a Ghanaian independent power producer, have successfully secured terms for an amended Power Purchase Agreement (PPA). Per the agreement, CEL has decided to convert its power plant into a tolling structure and transfer all resulting cost savings to ECG. A statement issued by the Public Relations Unit of the…
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Make provision for our $1.4bn debt in mid-year budget – IPPs to Gov’t
Ahead of the presentation of the 2020 Mid-Year Budget Review in Parliament on Thursday, July 23, the Chamber of Independent Power Producers and Bulk Consumers, CIPDiB, is asking government to capture the payment of the about USD$1.4 billion debt owed them in the budget. According to the Chamber, which is made up of the Sunon-Asogli…
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Re: Government freezes payments to Independent Power Producers
Last Friday, we published a story under the above headline. The story attributed to the Finance Ministry said the government had frozen payments to independent power producers (IPPs) ahead of renegotiations of some existing power purchase agreements. The statement issued by the Ministry rather stated that the government has put on hold its initial instruction…
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IES wants thorough engagement in gov’t, IPPs take or pay renegotiation
The Institute of Energy Security (IES) has called for further engagement between government and the independent power producers regarding the renegotiation of take or pay agreements. Their comment comes after the Chamber of Independent Power Producers and Bulk Distributors also called on the government to consider an efficient way to renegotiate power purchasing agreements with…
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Karpowership resumes operations after relocation to Western region
Karpowership Ghana Company Limited has announced that its 470MW Karadeniz Powership Osman Khan has resumed Power Production after successful commissioning works in Sekondi-Takoradi following relocation from Tema. According to a release issued by the company, the 470MW Powership would continue to operate on Heavy Fuel Oil to supply reliable and sustainable electricity to the national…
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Gov’t begins discussions with IPPs on take or pay agreements
The Ministry of Finance has stated that it has commenced discussions with independent power producers on restructuring pricing mechanism surrounding the power they supply to government. A press release issued by the Ministry said the discussion is expected to last three months. According to the Ministry, the meeting is part of the Government’s approach to…
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CIPDiB gets to work by inaugurating a 15-member board
Togbe Afede XIV, Chairman of the Board of Directors of the Chamber of Independent Power Producers, Distribution Companies and Bulk Consumers, Ghana (CIPDiB) said, the formation of the Chamber was long overdue. He said it was a normal practice that operators in the same field of expertise and service delivery joined forces together to push…
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Gov’t renegotiating expensive power purchase deals — Oppong-Nkrumah
Government has reiterated it’s committed to taking the necessary steps to ensure that high costs associated with bad power purchase agreements are significantly reduced. The Nana Akufo-Addo led administration has consistently accused the previous regime of signing power agreements which were knee-jerk reactions to the dumsor crisis, a situation which has led to the payment…