The Ghana Power Generation Company is undoubtedly one of the most famous companies in Ghana. The company has been trending after it won a judgment debt case against Ghana. For now, most Ghanaians are discussing the topic with big men in the ruling New Patriotic Party (NPP) and the opposition National Democratic Congress (NDC) knocking heads together.
A UK court has awarded a 170 million dollar judgment debt against Ghana for wrongfully terminating the contract of an independent power producer, Ghana Power Generation Company (GPGC) Limited. The Member of Parliament for Ningo Prampram Constituency Samuel Nartey George has mockingly said that perhaps we can start a 'susu' business with the balance of the 170 million euros loan from Germany after paying the 170 million dollars judgment debt incurred.
Ghana has once again been slapped with a 170 million dollar judgment debt by a UK court for terminating an energy agreement with an independent power producer, Ghana Power Generation Company (GPGC). The Executive Director at the Institute for Energy Security (IES), Nana Amoasi, has said that the work done by Mr. Carlos Ahenkora and his team must be interrogated for their recommendation which led to the termination of the power purchasing agreement between Ghana and Ghana Power Generation Company.
Ranking member on energy commitee in parliament Honorabe John Jinapor disclosed to Joynews correspondent Opoku Gakpo that far away London based court has found government of Ghana guilty of charges brought against them. He explained that a firm known as Ghana Power Generation Company sued in far away London tfor terminating their contract.
The National Communication officer for the National Democratic Congress, Sammy Gyamfi has blame the president, the then energy minister and the then attorney general and minister for justice for the recent ruling against the country by the United Nations Commission on International Trade Law (UNCITRAL) Tribunal, following the termination of contract with the Ghana Power Generation Company (GPGC).
The Ghana Power Generation Company (GPGC) emergency power agreement was signed in July 2015 under the administration of His Excellency John Dramani Mahama. This agreement had cabinet and parliamentary approval. So how did this agreement resulted in a $170 million judgment debt? The termination of the agreement leading to the tribunal award took place in 2018 under the watch of His Excellency Nana Addo Dankwa Akufo-Addo and his New Patriotic Party (NPP) administration.
A court in the United Kingdom (UK) has indicated that, it is too late for Ghana to for an appeal against the judgement debt amounting to US $164 million awarded against it for unlawfully terminating the contract of an independent power producer, Ghana Power Generation Company (GPGC) Limited.
The Ghana Power Generation Company (GPGC) send the matter to the International Court of Arbitration and during the sitting of the court, they have awarded an amount of $134 million and additional interest of $30 million against the Government of Ghana over the cancellation of an Emergency Power Agreement with GPGC limited. They cancelled this agreement because they realized that it is not of use to the country or did not need those power agreement. This contract was cancelled under the former Energy Minister