Akwa Ibom State Government has entered into a co-location and power production pact with African Delta Power Limited to add additional 366 megawatts to the existing 191megawatts of the state-owned Ibom Power Plant.
The agreement was signed by the Attorney General of the state, Mr. Uko Udom, on behalf of the state government, while the board Chairman of Ibom Power, Etido Inyang and Secretary of the company, Mr. Ime Asibong, signed for Ibom Power.
Jemeriah Oluwaseun and Christabel Nwagum (CEO of African Delta and Secretary respectively) signed the agreement on behalf of African Delta Power.
The new deal shows that the aggregate maximum capacity of the gas turbine generator units is capable of producing up to 732 megawatts although Ibom Power will need to apply to the National Electricity Regulatory Commission (NERC) for licence expansion to cover the expanded licence. Currently, the company has an on-grid licence for 685MW.
At the ceremony, which was held at the office of the Secretary to Akwa Ibom State Government and Chairman of the One-Stop-Shop on Investment Committee, Dr. Emmanuel Ekuwem, it was disclosed that the proposed power plant would be developed as part of Phase 2 of the IPP.
The SSG stated that the agreement was “not an MOU but a step further, which has transited the MOU phase”.
According to him, the proposed power project is under the ‘Power for All’ initiative of Governor Udom Emmanuel, which was inaugurated about two years ago by the Vice President, Prof. Yemi Osinbajo.
Ekuwem urged the investors to follow up the agreement by living up to the letters as enshrined in the terms of the contract.
Speaking on the development, the Chairman of Ibom Power Company Limited, Mr. Etido Inyang, said the first phase of Ibom power was already operational with an installed capacity of 191megawatts.