20 January 2014, Lagos – The new owners of Egbin Electric Power Plc and Ikeja Electricity Distribution Company (IKEDC), the Sahara Group and its technical partner, Korean Electric Power Corporation (KEPCO) are planning to increase power generation from the power plant to 2,670 megawatts (MW) from the installed capacity of 1320MW.
The Managing Director, Korea Electric Power Nigeria Limited, Yeom Gyoo Chull, told reporters during a facility tour of the plant that with the handover of the asset to the private sector, the management has been discussing on transformation of the plant and the workers.
He said the strategy is to restore Egbin to its fully built capacity of 1320MW within the year and build more turbines that will provide additional 1,350MW.
He said the additional capacity will commence in the next three years and on completion, will bring the combined output to 2,670MW. He noted that their target is to achieve a total capacity of over 10,000MW in the next decade if the demand permits.
He said: “I represent the Korea Electric Power Corporation (KEPCO) and we are proud to be involved in the power reforms through a Joint Venture between Korean Electric Power Corporation and Energy Resource Limited – managers of the Egbin Power station and New Electricity Distribution Company (NEDC) – managers of the Ikeja Electricity Distribution Company (IKEDC) both members of the Sahara Group.
“We intend to collaborate with our partners in Nigeria to initially restore Egbin to its fully built capacity of 1320MW within the year and provide additional projected capacity of 1,350MW commencing within the next three years, thus at completion we’ll have 2,670MW, with the aim of achieving a total capacity of over 10000MW in the next decade if the demand permits
“Kepco is among the largest nuclear power exporting companies and is also involved in every form of generation from wind, thermal, coal, solar, mass, hydro and renewable energy.”
The Managing Director of Egbin Electric Power Plc, Mike Uzoigwe, said the new company has taken off. “We are quickly retooling ourselves to be business-like. There are business plans that are being discussed at the board level, how we are going forward, a lot of investment coming up, a lot of capacity improvement in the pipeline, a lot of overhaul and repair works and things that we found out that made us not to be our best in the past,” he said.
He said the board meets more regularly to achieve the planned robust transformation. “The board sometimes meets two times in a month; ordinarily, it doesn’t have to meet that often, but because of what we are coming into the system with, the board has to meet regularly. He said Egbin has the capacity to generate 1080MW, but gas supply constraint has limited output from the plant to just over 600MW.
– The Nation