Business News of Tuesday, 29 October 2024
Source: Joy Business
Ghana's Institute for Energy Securities (IES) has warned of an impending power crisis, as the 560MW Sunon Asogli Power Plant, which supplies 12-15% of the country’s electricity, remains offline over an unresolved $259 million debt dispute with the government.
Despite requests from the Ghana Grid Company (GRIDCo) to resume operations, the plant needs immediate payment of $60 million to address its debts.
The shutdown highlights structural financial issues within Ghana’s power sector, risking prolonged power outages ("dumsor") that could harm economic stability and increase energy tariffs for consumers.