PANAPRESS
Panafrican News Agency
Nigeria: Brazilian firm to build 700MW power plant in Nigeria
Lagos , Nigeria (PANA) - A Brazilian firm, Benco Energy has signed a 144 billion naira (approximately US$930 million) Memorandum of Understanding (MoU), with the Nigerian government to construct a 700 megawatts power plant in the country, local media reported Saturday.
According to the private Vanguard newspaper, the gas and vapour powerd plant will be built in oil-rich Niger Delta region of Bayelsa State.
“It is a 700MW plant although it can reduce to 688MW because this depends on location and environmental conditions...The time schedule is supposed to be around three years to three and half years for the construction of the project”, the president of Benco Energy, Rodrigo Badew, was quoted by the newspaper as saying.
The choice of the location was strategic because it is a terrain which is close to gas supply, transmission line and a river.
“So, we have all the right infrastructure that we need there and this location is perfect for our investment”, Badew added.
The power plant will basically consist of two turbines that run on gas and two others that would run on vapour, said Nigerian Minister of Power, Prof. Chinedu Nebo, recalling that a couple of years ago, Electrobras of Brazil and the government signed an MoU which was aimed at bringing into Nigeria the company to help develop as much as 10,000 MW of power.
“What we are seeing today is the very first takeoff of the implementation of that MoU bringing Benco to work with the Federal Ministry of Power for their plant. We want to assure Benco that the terms of the MoU that we have signed today, we will do our best to implement them”, the minister said.
Presently, Nigeria generates and distributes an average of 4,500 MW of power, which has made power supply a little bit stable in some areas.
PANA, however, reports that in most of the states of the federation, the power supply situation has remained low, forcing many domestic and industrial houses to rely much on diesel driven generators with its attendant environmental pollution.
Experts said for Nigeria to achieve a stable power supply, it needs to step up investment in the sector by allowing more energy construction companies to meet the 10,000 MW target by 2015.
-0- PANA SB/AR 30Aug2014
According to the private Vanguard newspaper, the gas and vapour powerd plant will be built in oil-rich Niger Delta region of Bayelsa State.
“It is a 700MW plant although it can reduce to 688MW because this depends on location and environmental conditions...The time schedule is supposed to be around three years to three and half years for the construction of the project”, the president of Benco Energy, Rodrigo Badew, was quoted by the newspaper as saying.
The choice of the location was strategic because it is a terrain which is close to gas supply, transmission line and a river.
“So, we have all the right infrastructure that we need there and this location is perfect for our investment”, Badew added.
The power plant will basically consist of two turbines that run on gas and two others that would run on vapour, said Nigerian Minister of Power, Prof. Chinedu Nebo, recalling that a couple of years ago, Electrobras of Brazil and the government signed an MoU which was aimed at bringing into Nigeria the company to help develop as much as 10,000 MW of power.
“What we are seeing today is the very first takeoff of the implementation of that MoU bringing Benco to work with the Federal Ministry of Power for their plant. We want to assure Benco that the terms of the MoU that we have signed today, we will do our best to implement them”, the minister said.
Presently, Nigeria generates and distributes an average of 4,500 MW of power, which has made power supply a little bit stable in some areas.
PANA, however, reports that in most of the states of the federation, the power supply situation has remained low, forcing many domestic and industrial houses to rely much on diesel driven generators with its attendant environmental pollution.
Experts said for Nigeria to achieve a stable power supply, it needs to step up investment in the sector by allowing more energy construction companies to meet the 10,000 MW target by 2015.
-0- PANA SB/AR 30Aug2014
Tags Economy
