Business News of Thursday, 8 November 2018
CEO of Bui Power Authority; Fred Oware says the Electricity Company of Ghana (ECG) is yet to pay for power it generated for it since 2013 amounting to US$250 million.
He however noted that new concessioner Meralco has pledged to settle the debt from the GHS5.66 billion ELSA bond raised to curtail the energy sector debts hopefully from the second or third tranche.
Mr. Oware made the disclosures during a 2-day workshop organised for journalists to brief them on the operations of the power generator.
Bui Power Authority itself also owes and plans to conclude servicing its debts by 2023 should ECG not falter in payment according to the Chief Executive Officer.
Bui has a generating capacity of 404 megawatts but it currently providing 260 megawatts at a time. The 144 megawatts shortfall is because ECG does not pick the excess.
Its peaking plant which comes on stream between 11 pm and 5 am is operating at 80 percent capacity, unlike solar which operates at about 15 to 30 percent capacity.