Azura-Edo IPP – The Benchmark for IPP Development in Nigeria

KEY HIGHLIGHTS
•  Experienced project development consortium
•  Bankable offtake contract
•  Supranational, federal and state government support
•  Reputable EPC contractor
•  Solid gas supply arrangements
•  Strong bench of advisers for the government, lenders and the Project

The Azura-Edo independent power project (the Project) is the first large scale, private sector driven project financed, greenfield independent power project under development in Nigeria. In the recently reformed power sector in the country, the Project is regarded as a pathfinder of sorts, with developers and investors already considering the Project as a platform for similar developments in the market.

From a wider policy perspective, the Project plays a crucial role as well. It signals to private investors that despite challenges facing the country, bankable power projects can be successfully developed in Nigeria. It also expected to boost power generation, (providing electricity to an estimated 14 million people) stimulate infrastructural development and economic growth, while creating in excess of 1,000 jobs during its construction and operation.

The Project will be developed in three phases, starting with a 459MW open cycle gas turbine power station and a short underground gas pipeline connecting the power plant to the EscravosLagos Pipeline System, and a subsequent ramp up over two phases to bring the total capacity of the plant up to 1,500MW.

Continue reading

LEAVE A REPLY

Please enter your comment!
Please enter your name here