Lafarge Africa Has Stuck A Deal With IFC To Build A 220 MW Power Plant In Nigeria

1. Lafarge Africa, Finland’s Wartsila and the World Bank’s IFC have agreed to build a 220 megawatt (MW) gas-fired power plant in Nigeria to boost electricity supplies, they said on Wednesday. The Power Plant will help provide more electricity to about 1.4 million households.
2. The plan is to add a 220 MW power plant to Lafarge Africa’s existing 90 MW plant, which is used mainly for its cement operations in Nigeria.
3. The existing plant only uses 50 MW and supplies about 40 MW of excess power already, therefore once the new plant is built about 260 MW will go to the national grid under a power purchase agreement.
4. Under the agreement, Wartsila will build and manage the power plant, while Lafarge Africa will manage the project.The International Finance Corporation (IFC) will provide financial support and advisory services.
5. The cost of the project was not disclosed.

Source: Reuters