The Nigerian Bulk Electricity Trading Plc. (NBET) has finally signed its first Power Purchase Agreement (PPA) on coal-to-power with Zuma Power for the construction of a 300 megawatts (MW) coal power plant in Itobe, Kogi State.
Following this development, as well as its expected ratification by the Nigerian Electricity Regulatory Commission (NERC) and attainment of a financial closure with its investors, construction is estimated to start on the plant in the first quarter of 2016, and is to be completed within 30 months from the day it is commissioned.
The 300MW plant is the first phase of an entire 1200MW generation license which Zuma holds but NERC decided to break it into four parts of 300MW each two months ago for ease of execution.
