General News of Thursday, 24 June 2021
Energy Minister in the erstwhile Mahama administration Emmanuel Armah Kofi Buah is calling for a thorough study of events leading to the termination of the emergency power agreement between the country and the Ghana Power Generation Company (GPGC).
This, the former Energy Minister believes, will “allow us as a country to lay the responsibility where it belongs and learn clear lessons from this”.
In a terse message on his Facebook page in apparent response to seeming threats of investigation and prosecution by the Attorney General, the Member of Parliament for Ellembelle Constituency said he is completely heartbroken that all the “hard work and singular focus to address our power challenges and ensure a stable electricity supply is being marred by a decision for a US$170 million judgement debt…”.
Shading details of the contract, Mr Armah-Kofi Buah explained that the GPGC emergency power agreement was signed in July, 2015 and had a cabinet and parliamentary approval. “The termination of the agreement leading to the tribunal award took place in 2018 under the current government. This was after Ghana’s failure to properly defend the case in court,” he stated.
A United Nations Commission on International Trade Law (UNCITRAL) Tribunal ruled earlier this month that Ghana compensates GPGC for wrongfully terminating the power agreement in August, 2018.
GPGC had headed to the London-based court after the agreement, signed in 2015, was terminated by the government.
That contract was worth a total of $99.6 million.