According to reports, Nigerian power company Egbin Power Company plans to raise US$1.18 billion to increase its power generation capacity. Jiandao reported that the company’s goal is to more than double its power generation capacity to 3,000 megawatts to increase local power supply and increase exports to West African countries.

Ebin Electric hopes to sell electricity through the West African Power Pool, an entity of the Economic Community of West African States, which aims to establish a common electricity market for the region. Through the combination of debt and equity, the company plans to arrange funds before construction starts in the second quarter of 2022. In an email, the company told Jiandao.com: The plan is to raise funds to start.

Ebin Power did not disclose the details of the financing arrangements it plans to make. The company is owned by the Sahara Group and plans to build the second phase of its 1,320MW power plant. Ebin Power plans to start the first phase of the expansion project in 2022, starting with the construction of open-cycle turbines and completing the closed cycle by 2025.

In 2013, the Nigerian government divested the country’s state-owned power generation and allocated assets to private companies, after which the company acquired the power plant. Although Nigeria’s installed power capacity is 13,000 megawatts, only about 4,500 megawatts of electricity are delivered to the grid every day, mainly due to the dilapidated power transmission infrastructure. The government is now considering divesting its transmission network to increase its capacity.

Keywords: overseas engineering, international engineering construction, foreign engineering construction news

In October 2020, it was reported that 35 bids were announced for the solar energy technology market in the Middle East and Africa. This is an increase of 21% over the 29 quarter average of the past four quarters. Editor/XuNing、Design/XiaChangwang