The Ministry of Finance announced on Monday that the government has successfully settled $1.47 billion in energy sector debts as of December 31, 2025.
This decisive move aims to stabilise the power sector and restore international investor confidence following years of financial strain.
Upon taking office in January 2025, the Mahama administration faced a sector near collapse due to unpaid gas invoices from the Offshore Cape Three Points (OCTP) field. Key actions taken over the past year include:
- Karpowership Ghana – US$120 million
- Cenpower Generation – US$59.4 million
- Sunon Asogli – US$54 million
- Early Power – US$42 million
- Twin City Energy (Amandi) – US$38 million
- AKSA Energy – US$30 million
- Cenit Energy – US$30 million
- BXC Company – US$10.56 million
- Meinergy Technology – US$8.82 million
The Ministry also confirmed a new roadmap with Tullow Oil and Jubilee Field partners to ensure a consistent gas supply and reduce reliance on costly liquid fuels.
