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Thursday, July 19, 2018
The World Bank has approved $150 million as a partial risk guarantee and environmental impact assessment (EIA) on a 540-MW Nigeria power plant. The plant, the Qua Iboe Power Plant (QIPP), is set to begin construction in Akwa Ibom, Nigeria’s oil-rich south-south state, said Black Rhino group, operator of the project.
The QIPP is being jointly developed by the African Infrastructure Company (AIC), Black Rhino Group, Dangote Group, and Nigeria’s state oil company, the NNPC.
The gas-fired power plant is expected to cost some $1.1 billion and is expected to unlock investment in transmission infrastructure, including a new 58-km transmission line to be built by QIPP, Black Rhino said.
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