- Lafarge Africa Plc says its newly constructed 220-Mega Watts power plant at Ewekoro, Ogun State, will commence operation in October.
- The company, in a statement, said the project worth $400m (N78.8bn) was executed in partnership with the International Finance Corporation and Wartsila.
- It added that the IFC would provide financial and advisory services for the project through InfraVentures, its Global Infrastructure Project Development Fund, while Wartsila would build and manage the power plant.
- It expressed the hope that the project would enhance 1.4 million households’ access to electricity and help mitigate energy problems of many firms in the country.
- The firm said power project remained one of the company’s contributions toward providing an enabling environment for new investments and the nation’s economic growth.
- NAN reports that the Nigerian Electricity Regulatory Commission licensed embedded power companies to boost electricity supply in the country.
- Embedded power companies are not primarily power generating companies, but they generate extra power from their operations and sell the surplus to the national grid or the distribution companies.