$600 M natural gas-fired power facility to open in Nigeria
Nigeria is set to open a 550 MW gas-to-power facility that will provide 4.5 TWh of secure, affordable energy when it becomes fully operational in 2022.
Themis, an Africa-focussed power company backed by Denham Capital, announced a new partnership with Kingline Development Nigeria Limited (Kingline) to develop a 550 MW natural gas-fired power plant in Ondo State, Nigeria.
The Kingline Power Project is currently being developed and is expected to become fully operational in 2022. It will be located on 111 hectares of land in the Ondo State Industrial Park, adjacent to the existing Omotosho Power Plant.
Tas Anvaripour, CEO of Neo Themis, commented: “Kingline offers compelling advantages for the Federal Government of Nigeria given its extremely competitive pricing, availability of peripheral gas and transmission infrastructure, timing to operation, and technical flexibility.”
The project will cost around $600 M and it will be one of the lowest cost gas-to-power facilities in the international market.
Source: ESI Africa