Minister for Energy and Green Transition, John Abdulai Jinapor, has announced that ongoing renegotiations with Independent Power Producers (IPPs) have yielded savings of about $300 million, a move he says will strengthen the country’s energy economy.
Speaking during a tour of the Volta River Authority (VRA) in Accra on Friday, October 17, Mr. Jinapor said the review of power purchase agreements was part of broader reforms to address inefficiencies in the sector and reduce the financial burden on the state.
“The IPPs, based on the numbers I’m seeing, I’m confident that we can save a lot of money. And so far, what the IPPs renegotiated team has done tells me that we’re saving about $300 million from the IPPs,” he said.
The minister noted that while the Mahama government is pursuing new strategies for energy stability, it recognizes the contributions of the previous administration and is determined to build on them.
“The previous administration did its bit, and we have also come to improve on it. It’s not always about politics, but Ghana first. I don’t care about your political affiliation as you sit here. Let’s work and turn around this sector,” he added.
Mr. Jinapor emphasized that the reforms are guided by national interest, not political rivalry, stressing that sustained collaboration among stakeholders is key to achieving a reliable and affordable power supply.
He assured that the government remains committed to maintaining transparency and efficiency in the management of Ghana’s energy resources to ensure the sector’s long-term sustainability.
