With the epileptic power supply and generation bedevilling Nigeria for decades, and with the privatisation of the Power sector, private entities and States are beginning to source for independent electricity generation and supply to meet domestic needs.
In this regard, the Akwa Ibom State Government has finalise arrangement for the establishment of a new electricity generating company, Qua Iboe Power Plant.
Governor Udom Emmanuel made this known while fielding questions from Government House Correspondents shortly after a meeting at his office with the investors on the power plant project.
The project, governor Udom said is to be cited at Qua Iboe Onshore Terminal in Ibeno Local Government Area, and would be operated under Public Private Partnership Agreement (PPA) with the Nigerian National Petroleum Corporation (NNPC) joint venture with Dangote Group, BlackRhino, African Development Bank, International Finance Consortium (IFC) with the Islamic Development Bank as financiers of the project.
According to him, the project when completed would attract more investors and create employment as well as boost the economy of the state and country. He added that if about four hundred million cubic of gas were produced at the terminal, the industrialization policy of his administration would witness a major leap and assured of a congenial and safe environment for the investment.
Founder and Chief Executive Officer, BlackRhino, Mr. Brian Herlihy, explained that the power plant project has a portfolio of more than one billion dollars in partnership with BlackRhino, Dangote Group and NNPC.
He further explained that the company would build a 570 Mega watts Gas fire Power Plant using a Combined Circle Technology with General Electric equipment and world-class expertise, which would utilise onshore and offshore gas for its operations to enhance the growth of other industries in the value chain.
Herlihy also stated that the project would employ more than 12,000 workers at the construction level and 300 workers during operations, adding that this would have a replicate effect on the indirect job market.
He commended the governor for the reception granted the team, assuring that the company would live to its corporate social responsibilities and sued for more cooperation from both the government and people of the state.
Special Assistant to the governor on Power, Engr. Meyene Etukudo, noted that Akwa Ibom is richly blessed with enormous economic potentials and it’s development is gradually unfolding.
Etukudo identified power as a major element in industrial development, stressing that about 567 megawatt of electricity would be added to the national grid to make up to about 20 percent of the total grid in the country.
He commended the governor for his vision to build power sub-stations that would enhance effective energy distribution in the state. He also seized the opportunity to condemn the incessant vandalism on electrical installations.
Also present at the meeting were Secretary to the State Government Dr. Emmanuel Ekuwem, Dean of Commissioners, Dr. Glory Edet, and Senior Special Assistant to the governor on Technical Matters and Due Process, Elder Ufot Ebong.