By Our Correspondent
Equipment running into billions of naira meant for the Delta State Independent Power Project (IPP) Oghara, Ethiope West Local Government Area of the State is on fire. The Delta state IPP is estimated to cost 4 Billion Dollars.
The equipment arrived at the project site about two years ago and not much had been done about the project that had gulped so much money.
But on Monday, January 5, 2015 the equipment went up in flames in mysterious circumstances. National Reformer Newspaper gathered that the fire started at about 4:00pm. The cause of the fire was not known as at the time of filing this report, but according to our sources it is being attributed to sabotage.
Firefighters, according to our sources, are battling to put the raging fire under control, but the harmattan was not helping matters.
The Delta state Independent Power Project (DIPP) has achieved a highpoint with the submission of its electricity application for consideration and approval by the Nigerian Electricity Regulation Commission (NERC) through Delta Energy Generating Company Limited (DELGENCO), Delta Energy Transmission Company Limited ( DELTRANSCO) and Delta Energy Distribution Company Limited (DELDISCO) for a private sector led generation, off-grid transmission and off-grid distribution of 2,500MW power.
The Delta state IPP which is estimated to cost 4 Billion Dollars to be funded wholly by the private sector has UBA, Oceanic Bank as local lead arrangers, with UBS, Barclays and Bank Paribas for the international syndicate with 30 month completion circle. It is worthy to note that this project will be funded and operated by private investors.
The phase of 2,500 MW is the first phase of the state’s energy strategy, which on completion shall see the commencement of the second phase that will culminate in the production of 6000MW from Delta state.
