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Nigeria’s $200 Million Power Plant Underway

Nigerian Bulk Electricity Trading (NBET) has received the names of Proton Energy, amongst others being considered for power purchasing agreement licences by the Nigerian Electricity Regulatory Commission (NERC).

The move is part of the stipulated process in awarding licence and operation in the power sector for Gencos.
NERC’s Chairman, Mr. Sam Amadi said the commission expects the company to complete everything required in the process for the power licence.

“We expect that the company will expedite actions to ensure that all mandatory requirements are met.” Said Amadi. He added correspondences from other bodies would confirm that Proton have fulfilled all requirements.

The Managing Director, NBET, Rumundanka Wonodi confirmed that Proton Energy was listed among power licence prospectors that have been issued the Power purchase agreement draft to start negotiation. “We got a list from NERC about those that have applied for licence and who we can consider for PPA. Proton Energy is on the list.” He said.

Proton Energy is located in Sapele, Delta state, and is just part of many Independent Power Projects expected to boost power supply. Having a projected installed capacity of 150 MW, the plant, which is currently at its initial stage, will be expanded to produce a total of 500 megawatts on completion.

NBET’s Executive Vice Chairman, Mr. Oti Ikomi said the total cost of plant was estimated at $200 million and the project finance structure would be 70 per cent debt and 30 per cent equity basis.

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