The Government has announced that approximately $1.470 billion was paid at the end of last year to “rescue and restore Ghana’s energy sector”.
According to a press release issued on Monday, January 12 by the Ministry of Finance, the payment covers the World Bank Partial Risk Guarantee, outstanding gas invoices owed ENI and Vitol for electricity generation as well as legacy debts to Independent Power Producers (IPPs).
The debt on the partial risk guarantee (PRG) was $597.15 million, inclusive of interest, while that on the gas invoices was $480 million. A total of $393 million was settled with the IPPs.
“Altogether, the Ministry of Finance has paid approximately US$1.470 billion in the 2025 fiscal year to rescue and restore Ghana’s energy sector,” the press release stresses.
“Beyond clearing inherited arrears, and through disciplined implementation of the Cash Waterfall Mechanism by the Ministry of Energy, Government has remained current on largely all IPP invoices for 2025 and is firmly committed to further improving payment performance across all IPP obligations going forward.”
It assured all and sundry “the era of uncontrolled energy sector debt accumulation is over”.