IFC to facilitate additional
1500 MW to national grid on August 17, 2013 at 12:21 am in Energy By JONAH NWOKPOKU International Finance Corporation,
IFC has announced its plans to
support investments that will add
1, 500 megawatts of power
generation to the national grid. Addressing news men in Lagos,
IFC Vice President for Sub-Saharan
Africa, Latin America and the
Caribbean, Jean Philippe Prosper
said the corporation has already
signed a mandate to mobilize funds for a power generation
company and aims to provide
similar support for others, adding
that IFC also plans to support up to
three power generation
companies. “These projects will add 1,500
MW to the national grid and are
part of the World Bank Group’s
intervention in the sector which is
built into the Energy Business
Plan. IFC is also considering participation in a gas-to-power
project,” he said. He explained that under the
Energy Business Plan, each World
Bank group institution will
leverage its competencies and
products to provide solutions to
projects that encourage their viability and contribute to the
sustainability of the power sector. Prosper further noted that, “the
federal government has
demonstrated strong commitment
to successful implementation of
the power sector reform so that
all the pieces of a sustainable power sector are coming
together. The World Bank Group
has put together an Energy
Business Plan that will allow IFC,
the World Bank and MIGA to help
address key project structuring issues and boost power supply to
Nigerians,” he said. “IFC and the other institutions of
the World Bank Group are
committed to supporting Nigeria
with targeted interventions in the
power sector that facilitate
demonstration projects and boost investor confidence and contribute
to better living standards,” he
added. It would be recalled that the
Federal Government estimates
that N1.6 trillion investment is
required for infrastructure
development in Nigeria to achieve
its target of 40, 000 MW generation capacity by 2020. www.vanguardngr.com/2013/08/ifc-to-facilitate-additional-1500-mw-to-national-grid/

Why must it always be 'we will add'?, I was expecting to hear ' we have added'.

Story, the current scores stays at 2,600MW after 15 years of PDP misrule

omanzo02: Why must it always be 'we will add'?, I was expecting to hear ' we have added'.

I don't think anyone can blame you for your pessimism, I too have been hearing "will add" since I was a baby.

Although if the generation aspect of power has been unbundled and the market open to all investors, then building a power station will be a very smart investment for any individual that can secure a loan, or has the cash.

If I had the money, I would power up a small city like Festac Town, or Satellite Town. Don't think those places require more than 10MW to have uninterrupted power supply.