Renegotiated IPP deals save Ghana $300m – Energy Minister announces

Minister for Energy and Green Transition, John Abdulai Jinapor, has revealed that the government has saved about $300 million through renegotiations with Independent Power Producers (IPPs) — a move he says is critical to safeguarding Ghana’s energy sector.

Speaking during a working visit to the Volta River Authority (VRA) in Accra on Friday, October 17, Mr. Jinapor expressed confidence that the renegotiation efforts will yield significant long-term benefits for the country.

 

 

“The IPPs, based on the numbers I’m seeing, I’m confident that we can save a lot of money. And so far, what the IPPs renegotiated team has done tells me that we’re saving about $300 million from the IPPs,” he said.

 

 

John Abdulai Jinapor

The Minister noted that the Mahama administration is building on the progress made by the Akufo-Addo government in tackling challenges within the energy sector, stressing that the ongoing reforms are not driven by politics but by national interest.

“The previous administration did its bit, and we have also come to improve on it. It’s not always about politics, but Ghana first. I don’t care about your political affiliation as you sit here. Let’s work and turn around this sector,” he added.

Mr. Jinapor reiterated his commitment to ensuring stability and sustainability in the power sector, urging all stakeholders to collaborate in the national interest.By:Samuel Ackom