Papua New Guinea Power Limited (PPL) Board of Directors Chairman Mr. McRonald Nale approved and clarified on 1st April 2024, that no debt over K700 million is owed to the International Power Producers (IPP) as stated in one of the dailies published on March 28th of 2024+. The IPP’s include NiuPower, Dirio, POSCO Lae, PNG Forests Products Hydro, Edevu (PNG Hydro Development), and New Britain Palm Oil Ltd. According to PPL records, PPL has debt with IPP but less than K700 million, inclusive of other charges on top of the energy bills, capital recovery cost and interest cost (inclusive of late payments) as per stipulated. “PPL is debating some of their invoices and will engage with individual IPP’s to resolve these issues individual as per their Power Purchase Agreements (PPA).” “To claim PPL is insolvent is misleading, PPL remains operational despite the tough economic conditions we face.” “PPL continues to improve power reliability right across all our operations in the country with strong support from the Marape-Rosso Government, Kumu Consolidated Holding and multilateral Partners.” He added that PPL acknowledges IPPs crucial role and as stakeholders, providing generation for our major grids and will continue that partnership with IPP under fair terms and conditions that are equitable to both parties.