Ghana slapped with $137.9million judgement debt over power purchase contract – Canada Ghana Chamber of Commerce

Ghana slapped with $137.9million judgement debt over power purchase contract

An arbitration tribunal has ordered the government of Ghana (GoG) to pay $137.9million to Ghana Power Generation Company (GPGC), an independent power producer (IPP), for terminating a power purchase agreement (PPA) between the two parties in 2018.

Out of the amount, $134,348,661 represents early termination payment claim, which in itself is made up of $69,361,680 as early termination fee, $58,492,005.562 for mobilisation cost, $6,462,528 as demobilisation cost and $32,448 as preservation and maintenance cost.

The arbitration tribunal also awarded $614,353.86 against Ghana as the cost of the arbitration, and also awarded a cost of $3million against Ghana, which is the legal fees expended by GPGC during the arbitration.


Latest Posts

Canadian High Commission launches projects to support Ghanaian women

March 31, 2021

Asanko Mines stocks libraries of schools in Amansie West, Amansie South

March 31, 2021

Nissan committed to developing auto-industry

March 31, 2021

Ghana Raises $3bn On International Debt Capital Markets

March 31, 2021

Nana Invites Spanish Investors

March 31, 2021

Building an A-List Freight Forwarding and Logistics Company after cutting short his education … The Conship 25 years story

March 02, 2021

Kasapreko, Ghandour begin export under AfCFTA

March 02, 2021

Revenue from international trade exceeds target by 176% in Q3 2020

March 02, 2021

Ghana slapped with $137.9million judgement debt over power purchase contract

March 02, 2021

Toyota hikes profit forecast 54%, shrugs off global chip supply issues

March 02, 2021

Airlines passengers to pay $3,500 for flouting COVID-19 – Oppong Nkrumah

March 02, 2021

Average lending rate fall 2.59% to 21.10% since December 2019

February 02, 2021

PCR test at KIA to be reduced to $50 from $150 – Health Minister-designate

February 02, 2021

Covid-19 spending pushes Ghana’s debt to GH¢286bn

February 02, 2021

IMF projects growth rate of 4.2% for Ghana in 2021

February 02, 2021

Inflation to end 2021 at 8.5% – Fitch Solutions

February 02, 2021

Mobile Money Interoperability transactions went up by 367% in 2020

February 02, 2021

Government will partner mining industry for economic transformation – Minister

December 01, 2020

Ghana’s Tema LNG project hits financial close

December 01, 2020

Delta wins record 10th Business Travel News award on strength of pandemic response, people-first approach

December 01, 2020



Platinum Members