Chief Executive Officer of the Independent Power Producers (IPPs), Dr. Elikplim Apetorgbor has revealed three IPPs plan to shut down next week.
According to Dr. Elikplim Apetorgbor, the IPPs have been following up with the government for our expected payment but it’s not coming.
Speaking on GHOne TV, he stated, “Sunon Asogli is still idle, and we are not working. We’ve actually been following up on the government for our expected payment but it’s not coming, and no reasons have been assigned. For us, it’s gotten to the point that we cannot simply work if we do not receive the money”.
“That is the reality of the situation, it’s a general problem. For the whole of 2024, we received less than 30 percent of our monthly invoices. It is a very critical situation, if nothing is done before the end of this week, next week I can tell you three more IPPs will shut down”, Dr. Apetorgbor emphasized.
Dr. Elikplim Apetorgbor further revealed, “It is not a punishment for the government, it’s just the real situation that we do not have the required working capital to work with”.
