By Sulaiman Aruna Sesay
The Ministry of Finance, last Thursday 25 April 2024, issued a press release informing the public that the Ministry of Finance, in collaboration with the Ministry of Energy and Electricity Distribution and Supply Authority (EDSA), engaged the management of Karpowership to resolve the current energy challenge in Freetown.
The negotiation resulted to the payment of US$17m to the Karpowership by the Ministry of Finance to reduce outstanding obligations. The Government also transferred US$1.5m to TRANSCO-CLSG to ensure continued power supply from Cote D’Ivore.
According to the release, the Ministry of Finance, Ministry of Energy and EDSA will further engage with the respective Independent Power Producers (IPPs) to renegotiate the current contracts to ensure a sustainable and reliable energy supply. The public is further informed that the Ministry of Finance will deepen engagement with the Ministry of Energy and EDSA to roll out reforms that will ensure the financial viability of the Energy sector.
