A’Ibom, African Delta Power sign 732MW agreement for phase 2 of Ibom Power plant

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, Engr. Etido Inyang and Secretary of the Company, Mr Ime Asibong signed for Ibom Power.

Jereriah Oluwaseun and Christabel Nwagum, CEO of African Delta and Secretary respectively signed the agreement on behalf of African Delta Power.

With this development, the new deal shows that the aggregate maximum capacity of the gas turbine generator units is capable of producing up to 732Megawatts although Ibom Power will need to apply to the National Electricity Regulatory Commission (NERC) for license expansion to cover the expanded license. Currently, the company has an on-grid license for 685MW.

At the ceremony held at the office of the Secretary to the Akwa Ibom State Government and Chairman of the One-Stop-Shop on Investment Committee, Dr. Emmanuel Ekuwem disclosed that the proposed power plant will be developed as part of phase 2 of the IPP.

The SSG stated that the agreement was “not an MOU but rather it is 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.

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 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.

He said Ibom Power has a license to generate 685megawatts of power which the proposed power plant will leverage on.

“We have a delta of the remainder of the license that which is 685megawatts. They are coming in with their first phase of 366megawatts with plans to expand to 732megawatts which we will get an additional license to support”.

He further revealed that the Company had received many bids from several investors that had shown firm interest to partner with 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 said.

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.

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”.