IPGs Confirm Partial Settlement of Legacy Debt

The Independent Power Generators (IPGs), Ghana, have confirmed the settlement of a significant portion of legacy arrears owed to power generation companies, describing the development as a major boost to financial stability and investor confidence in the country’s energy sector.

IPGs’ membership includes Aksa Energy, Amandi Energy, BXC Company, Cenit Energy, Cenpower Generations, Early Power, Karpowership Ghana, Meienergy Technology, Sunon Asogli Power and Trojan Power.

In a statement issued on Monday, January 12, 2026, the IPGs said they “wish to formally acknowledge and commend the Government of Ghana, through the Ministry of Finance and the Ministry of Energy and Green Transition, for the successful settlement of a substantial portion of the legacy arrears owed to power generation companies operating within Ghana’s energy sector.”

According to the group, payments made in 2025 to Independent Power Generators mark “a major milestone in restoring financial stability and operational confidence across the power sector,” after years of structural challenges that constrained the industry.

The IPGs attributed the progress to what they described as “decisive leadership, disciplined fiscal management, and a clear commitment by Government to resolving inherited structural challenges.”

They singled out the Ministry of Finance for its role in securing funds to stabilise the sector, while also commending the Ministry of Energy and Green Transition for reforms aimed at improving payment performance.

“We particularly recognise the strategic role played by the Ministry of Finance in mobilising and deploying significant financial resources to stabilise the sector, and the Ministry of Energy and Green Transition for the disciplined implementation of the Cash Waterfall Mechanism and other reforms,” the statement said.

The power producers noted that the settlement has sent “a powerful signal to both domestic and international investors that Ghana is firmly committed to honouring its contractual obligations, strengthening sector governance, and rebuilding credibility in its power market.”

As a result, the IPGs said “investor confidence in Ghana’s energy sector has been meaningfully restored, positioning the country to attract new capital, technology, and long-term partnerships.”

Reaffirming their commitment to the country’s development, the group stated:

“The IPGs reaffirm our unwavering commitment to Ghana’s energy security, economic transformation, and industrial development,” pledging full cooperation with government and sector agencies to ensure reliable power supply and support ongoing reforms.

The association expressed optimism that the collaboration between government and power producers would endure, saying it remains confident that “the collaborative spirit demonstrated in the resolution of these legacy arrears will continue to guide the Government-IPG partnership toward a future of energy sustainability, financial discipline, and shared prosperity for theThe people of Ghana.”