Karpowership Ghana says it is in advanced negotiations with the Government of Ghana to extend its Power Purchase Agreement (PPA) beyond September 2027, expressing confidence that discussions will conclude positively.
The update was provided by Corporate Communications Manager ,Sandra Amartikar Amarquaye at the end of a media tour of the company’s floating power plant at the Sekondi Naval Base.
“We are currently in discussions for an extension of the agreement. Negotiations are ongoing and the outlook is positive. Beyond the current contract period, we are optimistic about continuing our operations in Ghana,” she said.
Debt Overhang Persists
The talks come amid a long-running financial dispute with the Electricity Company of Ghana, with outstanding receivables reported to have exceeded $370 million. Despite this, the company says the payment situation has improved in recent months.
Rising Demand Underpins Expansion Case
Sandra Amarquaye linked the push for an extension to sustained growth in electricity demand.
“Electricity consumption in Ghana has been growing at between 8 and 10 percent annually, creating sustained room for private sector participation alongside government investment,” she noted.
Karpowership, which has operated in Ghana since 2015 and relocated its Sekondi plant in 2019 to take advantage of natural gas resources in the Western Region, also highlighted the importance of upstream partnerships.
“Collaboration with upstream suppliers remains essential to maintaining stable generation,” she added, citing Eni as a key gas supply partner.
Social Investment and Strategic Focus
On social investment, the company pointed to its efforts to build local capacity and inclusion.
“We are currently running a Women on Board internship initiative aimed at increasing female representation in the energy sector,” Amarquaye said, adding that the company continues to support scholarships and school infrastructure in host communities.
Semih Sehin, Technical Manager for Europe and Africa, described Africa as a growing strategic priority.
“Africa is a key growth region for us, and Ghana remains a model for our operations on the continent,” he said.
The media tour forms part of the company’s periodic transparency engagements, allowing journalists direct access to its facilities, including the vessel’s control room.
