Brazilian Benco Energy Limited, the energy arm of the Benco Group will assist the Federal Government of Nigeria build a 700MW power plant in Nigeria’s Bayelsa State, in the core Niger Delta region. The N144 billion MoU was signed over the weekend and the plant is estimated to take three years to construct. The power plant which will be ‘gas and vapour fired’, is suited to Bayelsa’s terrain because of its proximity to gas supply, access to transmission infrastructure and natural river resources. Rodrigo Badew, president of Benco Energy Limited, stated that the power plant would consist of two turbines that will run on gas, with two others running on vapour.
The Nigerian government and Latin American power utility company Electrobras and the Nigerian government entered into a similar agreement to help the country to develop 10,000MW of power.
A local news source reported Nebo as saying: ‘What we are seeing today is the very first takeoff of the implementation of that MoU bringing Benco to work with the Federal Ministry of Power for their plant. We want to assure Benco that the terms of the MoU that we have signed today, we will do our best to implement them…Gas is now coming in and we are expecting even a lot more of gas.
‘The transmission facilities are being beefed up to strengthen and make more reliable and stable the national grid to be able to wheel out more power.’