The Chairman of Cenpower Generation Limited, Samuel Nana Brew-Butler, has disclosed that the company has agreed to give the Government of Ghana a US$66 million discount on outstanding payments.

This, according to them, is as part of efforts to improve the country's energy sector.

He said the decision is part of a revised Power Purchase Agreement (PPA) between the government and the company, which owns the 350-megawatt Kpone Independent Power Plant (KIPP).

Speaking at a ceremony to mark 10 years since the sod-cutting for the power plant at Kpone on Wednesday, November 4, 2026, Brew-Butler said the company considered the discount a necessary sacrifice to support Ghana's energy sector.

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He explained that the outstanding payments had reached about US$400 million at one point, making the revised agreement an important step towards resolving the financial challenges between the two parties.

“It's our country, so that sacrifice had to be made. We are able to do the exchange of this document, which is the amended and restated Power Purchase Agreement, and it allows us to give a whopping discount of US$66 million,” he said.

The revised agreement also provides for a 10-year extension of Cenpower's existing power purchase agreement and a reduction in the tariff charged by the company.

The changes are expected to support the continued operation of the plant and reduce financial pressure on the power sector.

The agreement follows the payment of approximately US$59 million to Cenpower in 2025 as part of the government's efforts to settle legacy debts owed to Independent Power Producers (IPPs).

Parliament also approved the refinancing of IPP obligations, including those of Cenpower, on July 28, 2026.

Brew-Butler acknowledged the difficulties involved in developing and operating the power plant, noting that financial uncertainty and lengthy negotiations had tested the company's commitment.

“It was a hard road to travel, but we did not turn back. We persevered, we kept faith, and today, we have reached an important milestone,” he said.

The Cenpower chairman also announced plans to expand the company's investments into renewable energy.

These include between 3 and 5 megawatts of rooftop and car park solar installations at its Kpone facility and a proposed 100-megawatt solar photovoltaic and battery storage project in the Savannah Region.

He said construction of the first 50-megawatt phase of the Savannah solar project was expected to begin in 2027.

Cenpower, which began its journey in 2003 through the efforts of four Ghanaian entrepreneurs, commenced commercial operations at the Kpone power plant on June 10, 2019.

The 350MW facility supplies electricity to Ghana's national grid and has provided power equivalent to the needs of about one million households since operations began.

The company also marked its contribution to the Kpone community with the presentation of 100 solar-powered streetlights to improve public lighting and support community safety.

ANAS/EB

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