• Thursday, May 30, 2024
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Nigeria, Azura Power signs agreement


 The Nigerian Bulk Electricity Trading Plc on Monday signed a ground breaking power purchase agreement with Azura Power West Africa Ltd, at the Presidential Villa, Abuja.

Azura Power, set up by Amaya Capital Partners to address Nigeria’s current power challenges, operates Azura-Edo Independent Power Plant to generate 450 megawatts from open cycle gas turbine power station in Benin, Edo State.

The company is investing about $700 million to develop a total of 1000 megawatts power plant facility and create direct jobs for 1,000 Nigerians during the first phase expected to take off in 2016.

The signing of the agreement which was part of the Federal Government Presidential Power Reform Transaction signing ceremony was done as part of plans to demonstrate government concrete proof of its readiness to improve power supply in the country.