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Investors riled as Ghana arrears build and renegotiations bite
In contrast to South Africa, where the government has managed to cool tempers inflamed after announcements that IPP tariffs might be renegotiated, officials in Ghana appear to be fanning the flames. IPPs are being pushed to renegotiate the terms of contracts at the same time as arrears from the Electricity Company of Ghana (ECG) are growing. One financier involved with several projects told African Energy that talks were under way between IPPs and the Ministry of Finance to resolve arrears without liquidity support facilities having to be drawn.
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