The Power Purchase Agreement (PPA) between Kingline Development (KLD) and Nigeria Bulk Electricity Trading Plc (NBET) for construction of 550Mega Watts(MW) plant valued at 550million dollars will boost confidence of would-be investors in the project.
KLD’s Managing Director, Mr Akinnola Fola, said this in an interview with newsmen in Abuja on Sunday.
Fola, who was speaking on the 550 million dollar power plant, said the signing of the PPA for the development of the plant would further take the discussions with lenders to a different levels.
“When you have the PPA signed it gives some kind of credibility to would-be investors and lenders, the reasons being that the PPA is so important to the power business.
“So, signing the PPA indicates that finally the project is ready to go and that investors and lenders are now ready to support the project,“ he said.
He said the benefit of the PPA to the project would guarantee the addition of 550MW of electricity to the national grid when completed.
Ondo $550m power plant will boost investors’ confidence, improve national grid by 550MW
