Firm to Boost Power Generation With $250m Gas Plant

Gas Plant
  • Firm to Boost Power Generation With $250m Gas Plant

As part of efforts to improve electricity generation and distribution in the country, a power plant development company, Proton Energy Limited, has announced plans to inject additional 150 megawatts of electricity into the national grid.

The Executive Vice-Chairman, Proton Energy, Mr. Oti Ikomi, disclosed this during the ground-breaking of the Proton Delta Sunrise Project, a gas-fired power plant in Sapele Local Government Area of Delta State, on Thursday.

Ikomi explained that the project, with $250m of foreign direct investment, would enhance economic growth in Delta State and the country at large.

“This project will be attracting close to $250m of foreign direct investment into Nigeria, assisting industrialisation, business and job growth in the country, in Delta State, and in particular, here in Sapele, where up to 1,000 hands will be utilised during construction,” he said.

He stated that the target of the project was to contribute to the national transformation agenda by adding 2,000MW over the next five to eight years.

Ikomi added that 1,000 jobs would be generated during the two-year period of construction of the power plant.

According to him, the plant will be upgraded to 500MW in the second phase

He explained that the project was based on the collective desire of the management of the company to make meaningful contributions to the development of the country and the realisation of the need for sustained private sector-led independent power plant development for the country and tackle the energy deficit.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years experience as a foreign exchange research analyst and trader.

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