Independent Power Producer Cenpower Generation Limited has agreed to waive $66 million from outstanding payments owed to it by the Government of Ghana as part of an amended Power Purchase Agreement (PPA).
The concession forms part of a revised agreement between the government and the power producer, which also provides for a 10-year extension of Cenpower’s existing contract and a reduction in the tariff charged for its electricity.
Cenpower Board Chairman Samuel Nana Brew-Butler announced the terms at a ceremony marking the 10th anniversary of the company’s 375-megawatt Kpone Thermal Power Plant.
He said the company had agreed to the financial concession despite the arrears having reached approximately $400 million at one point.
“So we are able to do the exchange of this document, which is the amended and restated Power Purchase Agreement, which allows us to give a whopping discount to all of you here. So, $66 million. If you remember, I said at one stage, what was outstanding was about $400 million, but it’s our country, so that sacrifice had to be made,” he said.
Under the revised arrangement, the government has also granted Cenpower an additional 10 years on its PPA and agreed to a tariff reduction.
“As a gesture, the government also decided to give us a 10-year extension of the PPA. And that is a document that we seek to sign, and also a reduction in the tariff we are giving,” Brew-Butler added.
The agreement comes as Ghana continues efforts to address legacy debts owed to Independent Power Producers, which have placed pressure on the country’s energy sector.
Cenpower had previously received approximately $59 million in 2025 as part of government payments towards its outstanding arrears.
Meanwhile, Vice President Professor Naana Jane Opoku-Agyemang, who attended the anniversary ceremony as special guest of honour, acknowledged the company’s contribution beyond electricity generation, particularly its community and environmental initiatives.
She cited Cenpower’s efforts to tackle plastic pollution along the shoreline of Sega Beach and its educational programme on waste management and biodiversity conservation for pupils of Paul Methodist School.
She also praised the company’s educational activities, describing them as worthwhile initiatives.
“You have also undertaken an educational programme on waste management and biodiversity conservation for students at Paul Methodist School. We are also very, very impressed by that. These are all worthwhile initiatives,” the Vice President stated.
