Nigeria needs $1bn Annually to attain 20,000mw by 2020–TCN

Dallas M. Peavey Jr, Managing Director/Chief Executive Officer, Egbin Power Plc, met with officials of the Bureau of Public Enterprises (BPE) on a monitoring visit to the plant, he stated that KEPCO Energy Resource Limited (KERL), operator of the power plant in Lagos State, has injected N46 billion in the facility since it took over in November 2013, pushing the plant’s capacity utilization to 85 per cent.

Peavey Jr explained that the expenditure profile has bolstered the operational efficiency of his plant, and raised its capacity utilization from 50 per cent to 85 per cent. The power plant currently generates an average of 1,100 megawatts (mw). It had its first major maintenance in 30 years recently with a total overhaul of units 4, 5, and 1; this allowed these units to peak to 220mw each. The power plant, had been operating at less than 50 per cent installed capacity prior to its takeover, now he says Egbin power plant is operating at over 85 per cent with the fixing of unit-06, which had not been operational for eight years.

Preliminary work has commenced for the building of an extra 1,350mw combined cycle plant besides, several other initiatives that has been embarked on to reposition the plant for greater efficiency. These include overhaul of the demineralization plant, which was achieved by the recovery of Train B; and replacement of turbine vibration monitoring systems, that assist in regulating the speed of the turbine vibrations.

He listed inadequate gas supply, non-payment or delayed payment of proceeds of power sales and the fact that the plant has an outstanding 10-month balance that amounts to over N40 billion. Other grey areas include delay in disbursement of CBN intervention fund for legacy debt.

Source: energy news