Nigeria signs PPA for 550 MW Kingline Ondo power plant
The government of Nigeria, through the Nigerian Bulk Electricity Trading Plc, has signed a Power Purchase Agreement (PPA) with Kingline Development Nigeria Limited for the power generated by the 550 MW power generation IPP project.
The project is the first phase of a 1100 MW power plant, which will be developed on a 250 acres plot secured as a contribution from Ondo State government.
The power plant will be operated using the public private partnership (PPP) module and is expected to generate about 550 MW in the first phase using simple-cycle with combined-cycle option. The
The total project investment for the phase I is estimated at US$500 million.
According to sources, Managing Director of the Nigerian Bulk Electricity Trading Plc Dr. Marilyn Amobi stated:
“For the NBET and for Nigeria, it is a welcome development. It confirms our quest for power generation and government’s commitment to ensuring that all the structures that are required to attract and make our investors comfortable are on the ground."
“At the NBET, we are working assiduously every day to see that people who have to si gn the PPAs, the agencies they have to interact with and conditions they have to develop their projects are as expected.”
Country news
-
-
August 18, 2016
Scatec Solar secures 100 MW solar project in Nigeria
Scatec Solar has signed an agreement with CDIL and BPS securing the 100 MW Nova Scotia Power plant located in Jigawa State, Nigeria. This agreement was announced in connection with Scatec Solar’s second quarter results. Read more -
July 15, 2016
Nigeria signs PPA for 925 MW of solar projects
Nigeria has signed power purchase agreements (PPA) for solar PV projects in the country. Government-owned Nigerian Bulk Electricity Trading Plc.(NBET) will be the power purchaser of the solar projects. Read more -
July 01, 2016
Chinese firm to develop 100 MW solar project in Nigeria
Sokoto State Government of Nigeria has signed a Memorandum of Understanding (MoU) with Chinese-based Kunming Engineering Corporation for the development of a 100 MW solar plant in order to improve power supply and enhance industry development in the country. Read more -
January 18, 2016
Azura-Edo Independent Power Project reaches financial close and enters construction
Azura Power West Africa Limited, a 450 MW gas-fired independent power project (IPP) in Nigeria, has reached financial close and has entered in the construction phase. Read more -
December 15, 2015
Infraventures to co-develop solar power plant in Nigeria
Last week, IFC, a member of the World Bank Group, signed a Joint Development Agreement with Alten’s Middle Band Solar One Limited, a Nigerian solar power project company, to co-develop a 120 MW peak photovoltaic solar power project with a consortium of developers. Read more
