Gas-Powered Energy Generation | Nigeria

NDL plans to develop and operate a gas turbine electric power generation plant in Nigeria in direct collaboration with a Nigerian State and Federal Government. This much-needed $700M (USD) project will bring an additional 732MW’s of power into Nigeria’s national grid. Nigeria, Africa’s largest economy in terms of gross domestic product, is facing a shortage in the supply of reliable power, resulting in an immediate demand for electricity that remains unmet. NDL‘s investment in the project will fund the designing, construction and operating via private sector of a new natural gas-fired generation plant adjacent to the existing 100% government owned IBOM Power Company in Ikot Abasi that will funnel power to the national grid. NDL has secured the full cooperation and off take agreement from the state-owned Ibom Power Company, and has assembled and contracted a team of experienced industry veterans with established key relationships across the power sector to bring this project to fruition. A revolving SBLC guaranty through an international prime bank to be provided to guaranty the government PPA to be provided. A funds lock box will be established to benefit the lender.