Sunon Asogli Power shuts down due to $259m debt owed by ECG
Sunon Asogli Power Ltd has shut down operations as of October 8, 2024, due to the Electricity Company of Ghana’s (ECG) failure to pay its $259 million debt. The company cited its inability to fund operations and ECG's unfulfilled payment promises.
Sunon Asogli Power Ltd has shut down operations as of October 8, 2024, due to the Electricity Company of Ghana’s (ECG) failure to pay its $259 million debt. The company cited its inability to fund operations and ECG's unfulfilled payment promises. Despite not charging ECG for idle capacity, Sunon Asogli’s debt has grown by 23% between January and September 2024, with only 22.6% of invoices paid through the Cash Waterfall Mechanism. The company expressed disappointment in ECG’s handling of the debt, forcing the shutdown.