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Sunday, December 20, 2015
Egbin Power Plc plans to double its generation capacity to 2,640 MW over the next three to four years to take advantage of the growing demand. CEO Dallas Peavey said the utility company, operated by state-run Korea Electric Power Corp (Kepco), was also looking at investments in solar energy and transmission lines to help address gaps that have held back the sector.
The company won its thermal plants with a total capacity of 1,320 MW two years ago under the Nigerian government’s privatization scheme.
Egbin Power, Nigeria’s largest power producer, is 70% owned by a JV between Kepco and Nigerian conglomerate Sahara Group, which also has interests in power distribution. The other 30% is held by the government.
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