Infini Power, NCDMB, GACN Sign Power Purchase Agreement To Supply NOGaPS Power

IFINI POWER

 

LAGOS MAY 9TH (NEWSRANGERS)-Infini Power Limited (IPL), a member of Tetracore Energy Group in collaboration with the Nigerian Content Development and Monitoring Board (NCDMB) and the Gas Aggregation Company of Nigeria (GACN), have signed a Power Purchase Agreement (PPA).

The PPA is targeted at supplying Independent Power to the Nigerian Oil and Gas Park Scheme (NOGaPS) Industrial Park located at Odukpani, Cross Rivers State, and Emeyal-1, Ogbia, Bayelsa State.

The agreement was facilitated by the Gas Aggregation Company of Nigeria established in 2020, to implement the Nigerian Gas Master Plan and Management of the domestic supply of gas to strategic sectors, especially the power sector.

The parties – IPL, NCDMB, and GACN – remained hopeful that the PPA will enhance the supply of stable power to tenants within the Parks who need an efficient and effective power supply to enhance their operations.

Commenting on the development, Felix Aremo, the Managing Director of Infini Power Limited, explained that with such a hurdle crossed, IPL is putting all resources together to deliver on the PPA by ensuring that the first power offtake happens before the end of the fourth quarter of 2023.

“IPL is partnering with NCDMB and GACN to demonstrate our unalloyed support and commitment to the Federal Government of Nigeria and NCDMB’s Local Content Initiative,” he said.

He added: “IPL, an Independent Power Producer, is a member of the Tetracore Energy Group that is focused on Power and Gas-to-Power infrastructure development, generation, and distribution of electricity to key industrial, residential, and commercial concerns in Nigeria.”

BusinessDay

 

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Posted by on May 9 2023. Filed under Business, National. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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