Natore Power Limited has stated that the company’s efforts and investments towards the achievement of stable power supply in the country is being sustained and the company is ready to take major steps, which would be made public soon.
Notore Power recently signed a Joint Development Agreement (JDA) with ContourGlobal to develop, construct, finance and operate a gas-fired power station with an available capacity of 500 MW in order to boost power supply in the country.
The Chief Executive Officer and Managing of the company, Femi Solebo in a statement, said this partnership will increase national power generation capacity and will directly contribute to the Federal Government of Nigeria’s commitment to improve power supply within the nation.
Solebo during the signing ceremony expressed delight at the official commencement of the project.
“We are very delighted and we are committed to enhancing the quality of lives of Nigerians and electrical power is definitely of serious need in our nation today. We are happy to be partnering with ContourGlobal, a world-acclaimed and trusted organisation and we are confident that this project would be delivered as promised”.
According to the statement, when completed, the power project will produce all the power required to run the Notore fertiliser plant in Onne, Rivers state and the excess will be sent to national grid.
ContourGlobal is an international power generation company with power generating assets of more than 3000 MW in operations or under construction in 15 countries on four continents. The company manages, owns and operates a portfolio of 31 power plants around the world, with a focus on high-growth, under-served markets, while utilizing a wide range of fuel types and technology including renewable energy production based upon wind, solar and biomass. ContourGlobal’s deep experience with projects in Africa will be further demonstrated during the execution of the joint development agreement with Notore Power. Some of its major projects include the acquisition of Arrubal 800 MW CCGT plant in Spain, the acquisition of Maritsa East 3, 908 MW lignite coal plant in Bulgaria, the operation of a 100MW plant in Lome, Togo, the operation of a Quad Genfacility in Nigeria for Coca Cola Hellenic Bottling Company’s Nigerian facility, the Phase 1 of KivuWatt biogas plant in Rwanda, and its recent acquisition of its GTi Dakar, a 52MW combined power plant in Dakar, Senegal.
Incorporated in August 2007, Notore Power was established to optimally manage power resources for its parent company, Notore Chemical Industries Limited, owner and operator of the only urea fertiliser plant in Sub-Saharan Africa. In 2008, Notore > Power successfully obtained a generation license for its installed capacity of 50MW.