The Federal Government has signed a Memorandum of Understanding with a Brazilian Firm BENCO ENERGIA for a 700 Megawatts Power Plant in Bayelsa State.
Minister of Power, Professor Chinedu Nebo said the MOU will among other things enable the Investors explore other aspects
of Power Generation in Nigeria.
This partnership is sequel to an initial MoU signed by Federal Government and electrical bras of Brazil for 10000 mega watts worth of electricity in Nigeria by Brazilian Investors and this is first of such investments.
Nigeria Minister of Power Prof. Chinedu Nebo and Brazilian Rep. Rodrigo Badin
The power plant with generation capacity of 700 megawatts estimated at 900 million dollars which comprise two gas turbine and two hydro turbines to be completed in three and half years.
On long time bases the Brazilian firms and its Nigerian counterpart are expected to explore core to power operation and also venture into electricity distribution.