Independent Power Producer Sunon Asogli Power Ghana Limited has denied receiving any portion of a USD30 million payment that the Ministry of Finance claimed was directed for release by the Controller and Accountant General’s Department (CAGD).

This comes amid mounting financial pressure on Sunon Asogli, which recently shut down its 560-megawatt power plant due to a USD259 million debt owed by the Electricity Company of Ghana (ECG).

The prolonged debt has severely impacted Sunon Asogli’s ability to operate, raising questions about the company’s financial stability and its capacity to sustain power generation.

Dr. Elikplim Apetorgbor, Business Development Manager at Sunon Asogli Power Ghana Limited, expressed frustration over the stalled payment arrangement, revealing that efforts to resolve the debt through installment payments had yielded little progress, worsening the company’s financial strain.

“We received notification from the Controller and Accountant General’s Department in the first week of our shutdown,” Dr. Apetorgbor explained.

“They informed us that the Ministry of Finance authorised them to pay us USD30 million. But they are having some challenges."

Dr. Apetorgbor shared details about the payment delay, noting that the funds were reportedly split into multiple tranches due to financial constraints within the government.

“It was in the week of salary payments, and they have to split this payment into five or six tranches. We are in November, and not even one tranche has been received.

“The assurance was that they would try and pay one tranche in their week of salary payment and the rest would come before the end of October. Here we are, and not even one of the tranches has been paid," he said.

In a strong rebuke, Dr. Apetorgbor criticised the Ministry of Finance for what he called “official propaganda,” cautioning that the ministry should be more cautious about public statements.

“It is unfortunate the Ministry of Finance has been reduced to an official propaganda office. It is such a sensitive office to be used for that,” he remarked.

He continued that: “I will advise that whatever information the Finance Minister provides or shares with the public, kindly double-check to ensure that you are dealing with the right information."

Dr. Apetorgbor was speaking in an interview with Accra-based Citi FM.