As efforts are geared towards ensuring a stable and improved power supply, the Nigerian Electricity Regulatory Commission (NERC) has issued power licence to Agip Oil Company (NAOC) signaling its approval operate in the country’s electricity market.
With this, NAOC’s Okpai power plant located in Delta state is now encouraged to finalise on the second phase of the project which will further grow its contribution to the national grid which currently stands at 480mw.
Okpai power plant is a joint venture investment of the Nigerian National Petroleum Corporation, NAOC, Philips Oil Company Limited and was constructed in line with a power purchase agreement signed on July 24, 2001 with the then National Electric Power Authority prior to the enactment of the Electric Power Sector Reform Act 2005, which establishes NERC.
The plant started operations on April 1, 2005 and has since being delivering 480MW to the national grid.
Chairman, NERC, Sam Amadi while issuing the licence to NAOC said, “We know Agip can deliver more. You do not have gas problem. We are looking forward to your delivering more power to the national grid.”
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“We congratulate you on this special occasion and we are ready to guide you through the process to ensure you do deliver more power to the national grid.”
Amadi challenged Agip to do more than it currently does in the power sector, being an oil producing company that gas supply would not be a challenge.
He assured of the Commission’s assistance within its area of influence to ensure that investors in power generation do not suffer loss on their investments.
Massillon Insulla, managing director, NAOC assured the power regulator of the company’s willingness to investment more in the power sector with its ready plan to go into the next chapter with its efforts at contributing to solving the country’s power challenges.
“We are ready for the second phase”, Insulla told NERC on the company’s commitment to start work on the second phase of its Okpai Power Plant in Delta State.
“Agip is committed to working in compliance with NERC rules and regulations. We shall work without compromising integrity of the assets and in line with the rules and regulations.”
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