LaFarge Africa, Wartsila and the World Bank’s The International Finance Corporation (IFC) have signed an agreement to jointly construct a 220MW gas-fired power plant in Nigeria, aimed at increasing electricity supplies.
The team intends to help boost power supplies to Nigeria’s national grid while providing more electricity to about 1.4 million households, Reuters reports.
Under the terms of the agreement, Lafarge Africa’s existing 90MW plant, which is focused on powering its cement production in Nigeria, will be integrated with a 220MW power plant, with an investment of approximately $400m.
Currently, about 40MW excess power from the Lafarge Africa’s power plant is being transferred to the national grid.
With the addition of the proposed 220MW facility, the Lafarge Africa’s plant will provide a total of 260MW to the national grid under a power purchase agreement.
Wartsila will build and manage the power plant whereas Lafarge Africa will be responsible to manage the project, as part of the accord.
The World Bank’s private sector development division, The International Finance Corporation (IFC), will provide financial support and advisory services for the project.
