May 24, (THEWILL) – The Government of Akwa Ibom State has entered into a co-location and power production pact with African Delta Power Limited to add additional 366 megawatts to the existing 191 megawatts of the state-owned Ibom power plant.
The new deal shows that the aggregate maximum capacity of the gas turbine generator units is capable of producing up to 732 megawatts, which is capable of generating 24-hour power supply in the state in the nearest future.
It is obvious that 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.
Signing the agreement on behalf of the State Government on Tuesday, was the Attorney-General and Commissioner for Justice, Uko Udom, SAN. The Board Chairman of Ibom Power, Engr. Etido Inyang *FNSE* and Secretary of the Company, Barr. Ime Asibong, signed for Ibom Power; while Jemeriah Oluwaseun and Christabel Nwagum (CEO of African Delta and Secretary respectively) signed the agreement on behalf of African Delta Power.
At the ceremony 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 will be developed as part of the phase II of the Ibom Power Plant.
According to the SSG, the agreement was not an MOU, but rather it is a step further, which has transited the MOU phase, saying that the proposed power project is under the ‘Power for All’ initiative of Governor Udom Emmanuel administration, which was inaugurated about two years ago by the Vice President, Prof. Yemi Osinbajo.
Dr Ekuwem urged the investors to follow up the agreement by living up to the letters as enshrined in the terms of the contract.
On the implementation of the project, the One-Stop Shop on Investment Committee Chairman urged the African Delta Power team to speed up the processes and abide by the roadmap agreed to by the government for the project.
Speaking during the signing ceremony, the Chairman of Ibom Power Company Limited, Engr. Etido Inyang, noted that the first phase of Ibom power is already operational with an installed capacity of 191 megawatts.
He said Ibom Power has a licence to generate 685 megawatts of power which the proposed power plant will leverage on.
“We have a delta of the remainder of the licence which is 685 megawatts. They are coming in with their first phase of 366 megawatts with plans to expand to 732 megawatts, which we will get an additional licence to support”, Inyang explained.
Giving further insights, the Board Chairman revealed that the Company had received many bids from several investors that had shown firm interest to partner Ibom Power for its Phase 2, but African Delta Power has proven to be ‘outstanding.’
“Their technical partners have been supportive and we have seen the turbines that are coming in. We have seen that they have evidence of funding that will be deployed in the installation of these turbines and they are going to commence groundbreaking within the first week of June”, he stated.
Also, the Managing Director of Ibom Power, Engr. Meyen Etukudo, expressed satisfaction over the deal, and described it as ‘mutually rewarding’ for both parties with great prospects for the future. The Phase 2 of Ibom Power, according to him, will ensure the company continues to break more frontiers.
On how the project will be implemented within the stipulated nine months period, the Chief Executive Officer (CEO) of African Delta Power, Jeremiah Oluwaseun, said, most of the turbines and the systems have been prefabricated so they are ready to be deployed with their foreign technical partners from the United States.
“Once a few other things are put in place, these equipment will be shipped in, in phases for onward installation here.”
Oluwaseun, who led his team consisting of the GM-Operations, Kelechi Samuel Anyamele; GM-Admin, Christabel Nwagum and the CLO, Etim Ayara, said that Akwa Ibom was selected for the project because the state had the prerequisites for the project. In his words, “Akwa Ibom State has the gas, a welcoming environment, good partners and a state government that is willing to go ahead with the project.”
The meeting was attended by the Attorney-General and Commissioner for Justice, Uko Udom, SAN; Commissioner for Power & Petroleum Development, Dr John James Etim; Commissioner for Special Duties, Engr. Bassey Okon; Commissioner for Economic Development, Emem Bob; Commissioner for Trade and Investment, Engr. Camillus Umoh; Commissioner for Lands & Water Resources, Capt. Iniobong Ekong, Chairman, Akwa Ibom Investment Corporation, Dr Elijah Akpan, the Managing Director of Ibom Power, Engr. Meyen Etukudo and the Company Secretary of Ibom Power, Barr. Ime Asibong.
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