The government of Cross River State, Nigeria, has sealed a deal with Monitor Power Solutions for the provision of a $600 million Floating Power Generation Station, which has the capacity to produce 750MW of electricity.
The solution involves the provision of 750MW of power that will be delivered via a floating power vessel, utilizing feedstock derived from NNPC’s gas pipeline. The ship will be based on Calabar waters and is expected to be operational for an initial 15-year period. Additionally, the solution involves temporary truck based turbines that will be operational with a functional capacity of 40MW within six months by Siemens new aero-derivative model SGT-A45 TR gas turbine.
Speaking on behalf of Monitor Power Solutions, LLC, African Discovery Group CEO, Alan Kessler said, “Nigeria will have a bigger population than that of the United States by the middle of this century – consistent electricity is vital. We are thrilled to be providing the people of Cross-River State an inexpensive, consistent, comprehensive power solution that will enhance their economic development for many generations to come.
“We appreciate the vision by His Excellency Governor Ayade in embracing this solution, thereby accelerating the industrial growth of the state. We strongly believe that in addition to benefitting Cross River State, Nigeria and the entire region encompassing Cameroon and Chad, too will act as beneficiaries.”
He thanked immensely the managing director of Footprint to Africa Barrister Osita Oparaugo for facilitating this investment, the Chairman of FWE Western Energy Limited, Mr. Henry Ojinere, and Mr. Ani Wellington for putting together a wonderful team.
The Managing Director of Footprint to Africa thanked the governor of Cross River State and the state executive council for the role they are playing towards industrialization of the state and Nigeria by extension and promised to use their platform to continue to attract genuine partnerships with investors who have an appetite for Nigeria. “I am convinced that looking at the kind of projects the state has embarked upon, that the state is on the right track of becoming an investment destination of choice in Nigeria and Africa,” Mr Oparaugo added.
Mr. Henry Ojinere promised that FWE Western Energy Limited, the utility power company that will manage the power station, will ensure the smooth running of the facility with a competent team and a solid human resource base.
In his response, the Executive Governor of Cross River State thanked Mr Kessler and the representative of Siemens, Mr. Ifedapo Adeniyi, and the Managing Director of Footprint to Africa for their confidence in his State.
The governor further said infrastructure is very central to his administration and that the state has in stock a lot of incentives for investors. Huge market and market access to Cameroon and other West African countries, good governance and assured security.
He said he is grateful to the President of the Federal Republic of Nigeria for his express approval and support towards the several projects embarked by the state especially the superhighway and the Bakassi Deep Seaport. He thanked the Ministers of Transportation and Mines for their support towards Cross River State and called on Nigerian, intra-African and global investors to look towards Cross River as the state is becoming not only home to tourists but one of the leading destinations for investors as well.