Sunon Asogli Power Ltd has shut down its operations due to a $259 million debt owed by the Electricity Company of Ghana (ECG).
In a statement released on October 16, 2024, the company said it was forced to stop operations on October 8 because ECG failed to settle its outstanding payments.
Sunon Asogli highlighted that, unlike other independent power producers, it has refrained from billing ECG for idle capacity charges. However, the debt owed grew by 23% from January to September 2024, with ECG paying only 22.6% of the amount due through the Cash Waterfall Mechanism.
