Power Plant
POWER PLANT AND GAS FIELD DEVELOPMENT PROJECT
Development of 100MW Power Plant in Ugbenu, Awka North Local Government Area, Anambra State and the Development of Gas Fields on Orient Petroleum Resources Plc’s Licensed Area in Anambra State (Installed Capacity 124MW)
INTRODUCTION
- This BUSINESS plan is SETUP by AGFIP Management in order to acquaint and familiarize shareholders and fund providers with the new investment that Anambra Gas Fired IPP Co. Limited and Orient Petroleum Resources Plc (the “Companies”) are venturing into.
- The project is the development of a 124 megawatts power plant in Ugbenu, Awka North Local Government Area, Anambra State and the development of it’s gas field AT THE SAME LOCTION.
OPPORTUNITY STATEMENT
- Nigeria as a DEVELOPING country is facing so many challenges and one of the major challenge which is setting the country back towards its economic growth is inadequate electricity.
- Nigeria needs upto 180,000 megawatts of electricity according to statistics inorder to satisfy her energy demands. Only about 4,500 megawatts is of electricity is currently been generated in the country. This major issue has lead to the closure of some businesses in the country due to high cost of operating self generated electricity by some companies and businesses.
PROJECT OVERVIEW
- AGFIP intends to commence with the initial scheme which is to install first a 124MW plant alongside with the development of alo-1 gas field. This is to ensure delivery of a constant Net Electrical output of 100MW on 132KV voltage level to TCN Transmission station at Agu-Awka. The Future plan of company Is to install 1,000 Mw that will feed both locally and internationally.
- Gas is a major input required for power generation in a gas fired power plant facility of which alo-1 gas field has proven gas reserves to support a 2,000MW gas fired power plant for over a 100year period.
MAP
Who will benefit from this project?
Consumers
- · Efficiently generating electricity
- · Relatively cheap energy
- · Protection against the unreliable supply of fuel
- · Income savings through the reduction in the cost of self-generating powe
Investors
- · Opportunity to invest in an emerging market
- · To create value for owners of the company through expansion of current business (“production and refining element of the value chain”) thereby increasing its competitive advantage.
- · Increase shareholders’ wealth through projected revenues from the project.
Overall Economy
- · To support the Federal and Regional Government in achieving the objectives of the Nigerian & West African Gas Master Plan.
- · To contribute in Nigeria’s drive towards a sustainable industrialization process.
- Create employment and steady income opportunities for skilled and semiskilled individuals.
- · On full completion of the project, about 100 direct jobs as well as 300 indirect jobs will be created.
- · A new lease of life will be brought to rural areas which are not near the gas pipelines.
- · Source of revenue for government through taxes etc.
- · Increased and healthy competition in the power and energy industry