The
Federal Government and Benco Energy Limited of Brazil yesterday signed a N144
billion Memorandum of Understanding, MoU, to construct a 700 megawatts power plant
in Nigeria.
The
President of Benco Energy Limited, Brazil, Mr. Rodrigo Badew, said at the MoU
signing ceremony that the plant which will be gas and vapour fired will be
built in Bayelsa State.
He
added that the plant will have a construction period of three years.
According
to him, “it is a 700MW plant although it can reduce to 688MW because this
depends on location and environmental conditions. The investment is around $800
to $900m.
“Of
course all these will be confirmed as soon as we have all the necessary
investigations and have them more defined. The time schedule is supposed to be
around three years to three and half years for the construction of the project.
“The
location is Bayelsa because it is a terrain which is close to
