{"id":240199,"date":"2024-10-27T15:35:07","date_gmt":"2024-10-27T15:35:07","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/10\/27\/sunon-asogli-acted-in-bad-faith-in-shutting-down-amin-adam\/"},"modified":"2024-10-27T15:35:07","modified_gmt":"2024-10-27T15:35:07","slug":"sunon-asogli-acted-in-bad-faith-in-shutting-down-amin-adam","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/10\/27\/sunon-asogli-acted-in-bad-faith-in-shutting-down-amin-adam\/","title":{"rendered":"Sunon Asogli acted in bad faith in shutting down &#8211; Amin Adam"},"content":{"rendered":"<br><div id=\"article-text\">\n                       \n                        \n<p class=\"wp-block-paragraph\">Minister of Finance, Dr. Mohammed Amin Adam, says Sunon Asogli Power Limited acted in bad faith by shutting down its operations.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Addressing the press at Washington DC, Dr. Amin Adam disclosed that the government had initially agreed with Sunon Asogli to settle outstanding payments. However, contrary to the agreed terms, the power producer demanded payment before signing the settlement agreement.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Minister further revealed that Sunon Asogli altered the initial settlement terms by demanding $60 million, double the originally agreed amount of $30 million.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company also threatened to cease operations if the government failed to meet the new financial demand. This, he explained led to the shutdown of Sunon Asogli.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cI had meetings with Asogli, and we agreed that we would pay, but we wanted them to sign the settlement agreement because this is one of the terms of the agreement. They said no, we should pay before they sign.<\/p>\n\n\n\n<figure class=\"wp-block-audio\"><audio controls=\"\" src=\"https:\/\/www.myjoyonline.com\/wp-content\/uploads\/2024\/10\/WhatsApp-Ptt-2024-10-27-at-1.18.48-PM.ogg\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u00a0\u201cThey came and said they no longer want 30 million. Now they want $60 million. And if we don&#8217;t pay them $60 million, they will shut down. That is why they shut down,\u201d Dr. Amin Adam stated.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On October 8, Sunon Asogli Power Ltd. shutdown of its operations due to the inability of the Electricity Company of Ghana (ECG) to pay its $259 million debt.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company in a statement released on October 16, 2024, said \u201cThis difficult decision was necessitated by our inability to fund our operations because of the failure of the ECG to honour their overdue payment obligations and their various promises to that effect.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But Dr Amin Adam criticised the power producer\u2019s decision to halt operations, suggesting that the timing was a deliberate attempt to pressure the government, especially with the country preparing for elections.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cPeople behave as if we, as a country, don\u2019t know our rights or what we want, especially when elections are near. They think they can put a gun to the head of Ghana. By shutting down, they acted in bad faith. This is not how partners work together when it involves financial negotiations,\u201d Dr. Amin Adam added.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Despite the impasse, the Minister disclosed that Sunon Asogli has now agreed to sign the settlement agreement.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He noted that ECG has been instructed to proceed with the signing to restore relations and ensure a stable power supply.<\/p>\n\n                <p><strong>DISCLAIMER: <\/strong>The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.<\/p>      \n               \n <!-- Post Tags -->\n                \n\n                        \n\n    \n                                 \n                                             \n                    <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Minister of Finance, Dr. Mohammed Amin Adam, says Sunon Asogli Power Limited acted in bad faith by shutting down its operations. Addressing the press at Washington DC, Dr. Amin Adam disclosed that the government had initially agreed with Sunon Asogli to settle outstanding payments. However, contrary to the agreed terms, the power producer demanded payment [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":240200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-240199","post","type-post","status-publish","format-standard","has-post-thumbnail","category-top-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sunon Asogli acted in bad faith in shutting down - Amin Adam - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/10\/27\/sunon-asogli-acted-in-bad-faith-in-shutting-down-amin-adam\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sunon Asogli acted in bad faith in shutting down - Amin Adam - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Minister of Finance, Dr. Mohammed Amin Adam, says Sunon Asogli Power Limited acted in bad faith by shutting down its operations. 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