In a concerted effort to tackle the prevailing energy crisis in Freetown, the Ministry of Finance, in close collaboration with the Ministry of Energy and the Electricity Distribution and Supply Authority (EDSA), initiated negotiations with Karpowership management.
Today, on April 25th, 2024, an agreement was reached, resulting in the disbursement of US$ 17 million to Karpowership to address outstanding obligations.
Moreover, in a bid to ensure uninterrupted power supply, the government has transferred an additional US$ 1.5 million to TRANSCO-CLSG, reinforcing ties with Côte D’Ivoire.
According to a statement released by the Ministry of Finance, further discussions are underway with independent Power Producers (IPPs) to reevaluate existing contracts, aiming for a sustainable and dependable energy provision.
The Ministry of Finance pledges to intensify collaborations with the Ministry of Energy and EDSA to implement reforms geared towards enhancing the financial stability of the Energy Sector.
