BY KAYODE EKUNDAYO
Electricity generation from Egbin Power Plant has risen to 883MW as another 175MW unable to be utilized due to external constraints with both gas and grid.
Speaking during a tour of the plant by the Senate Committee on Privatisation led by its Chairman, Senator Theodore Orji, in Lagos on Tuesday, Chairman Sahara Energy, Kola Adesina, said the company was able to achieved the increase in generation as a result of transformation process which involved billion of Naira as well as recent signing of a new gas deal with the Chevron Nigeria Limited and Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC).
He also disclosed that the total amount owed to Egbin by NBET, including money for actual energy wheeled out, interest for late payments and available capacity payments is amounted to N388 billion while a total of 106.34MW worth N13.68 billion has been lost since January 2021 to external constraints with both gas and grid.
He noted that as at the time when the investors took over the asset in 2013, the plant was generating averagely 440MW of electricity but today, the plant is generating an average of 800MW.