- Ibom Power to increase generation capacity by 500MW.
- NBET has paid only 30% of its total invoice.
Meyen Etukudo, the MD of Ibom Power, has stated that the generation company is looking to construct an additional 500MW plant. The company’s current capacity is 190MW, although the company newly renewed its license to generate 685MW till 2028.
Etukudo, while speaking to the Nation, stated that some of the challenges faced by the company include its inability to evacuate all of its generated power to its home DisCo, the Port Harcourt Electricity Distribution Company (PHEDC). He stated that PHEDC takes only 60 per cent of the energy generated while 40 per cent is transmitted to the national grid. Another challenge the MD noted is the indebtedness of NBET to the company. He added the bulk trader had paid only 30 per cent of its invoice.
He said the Akwa Ibom state government have constructed132/33KVA and 260MVA transmission infrastructure at Ikam to resolve some of the transmission challenges faced in the state. However, the MD also noted that the FG’s 40 per cent stake in PHEDC has hindered the state from investing in the distribution sector.
Etukudo noted that the gas pipeline connecting the Ibom Power plant could transport about 400 million standard cubic feet of gas, enough to feed the 500MW power plant on the proposed additional capacity.