The agreement was signed by the State Attorney General, Mr. Uko Udom, on behalf of the state government, while Ibom Power’s Chairman of the Board, Etido Inyang, and Company Secretary, Mr. Ime Asibong, signed for Ibom Power.
Jemeriah Oluwaseun and Christabel Nwagum (African Delta CEO and secretary respectively) signed the agreement on behalf of African Delta Power.
The new agreement shows that the maximum aggregate capacity of the gas turbine generating units is capable of producing up to 732 megawatts, although Ibom Power will have to apply to the National Electricity Regulatory Commission (NERC) for the expansion of the license to cover the extended license. . The company currently has a grid license for 685MW.
At the ceremony, which was held at the office of Akwa Ibom State Government Secretary and Chairman of the Single Window Committee on Investments, Dr. Emmanuel Ekuwem, it was revealed that the proposed power plant would be developed as part of Phase 2 of the PPI.
The SSG declared that the agreement “was not an MOU but one more step, which has passed the MOU phase.”
According to him, the proposed power project is part of Governor Udom Emmanuel’s ‘Energy for All’ initiative, which was launched about two years ago by Vice President Professor Yemi Osinbajo.
Ekuwem urged investors to follow up on the agreement by complying with the letters enshrined in the terms of the contract.
Speaking about the development, the chairman of Ibom Power Company Limited, Mr. Etido Inyang, said that the first phase of Ibom power was already operational with an installed capacity of 191 megawatts.