Federal Government Owes Egbin Power Station N39b

Chairman, Egbin Power Station, Mr Kola Adesina, said the N39 billion being owed the firm by the Federal Government is frustrating its expansion plan. He said the debt has been hanging since November 2013. Adesina said the debt was equally creating some bottleneck in the company’s planned capacity expansion initiative. The non-activation of Power Purchase Agreement (PPA) by […]

Chairman, Egbin Power Station, Mr Kola Adesina, said the N39 billion being owed the firm by the Federal Government is frustrating its expansion plan.

He said the debt has been hanging since November 2013.

Adesina said the debt was equally creating some bottleneck in the company’s planned capacity expansion initiative.

The non-activation of Power Purchase Agreement (PPA) by government, he said, was also posing operational challenges in the system.

The chairman said the management of the firm had fulfilled all performance agreement it entered into with government upon its acquisition in November 2013.

He said the management was planning to raise the plant’s capacity by additional 1,350megawatts (Mw) to hit 2,670Mw by 2019.

According to him, about $1.3 million will be spent on the proposed expansion programme of the plant.