The Ministry of Finance has disclosed that the Mahama administration settled about US$393 million in outstanding payments owed to Independent Power Producers (IPPs) in 2025 as part of a broader effort to stabilise Ghana’s energy sector.
In a statement issued on January 12, 2026, the Ministry said the payments were part of a wider US$1.47 billion energy sector intervention aimed at clearing inherited arrears, restoring investor confidence and ensuring reliable power supply across the country.
According to the Ministry, major beneficiaries included Karpowership Ghana Limited, which received US$120 million, Cenpower Generation Company with US$59.44 million, and Sunon Asogli Power, which was paid US$54 million, among other producers.
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“These payments further anchored the gains made in restoring stability to the sector,” the Ministry stated.
The Ministry further disclosed that the government has completed the renegotiation of all IPP agreements, securing what it described as improved value for money for the state.
It said the implementation of the Cash Waterfall Mechanism has been strengthened to ensure timely payments and prevent the re-accumulation of arrears.
“The era of uncontrolled energy sector debt accumulation is over,” the statement said.
The Finance Ministry added that the government remains committed to improving payment performance across IPP obligations while expanding domestic gas production to reduce dependence on high-cost liquid fuels.
It said these measures are expected to support long-term energy sector sustainability and fiscal discipline.