Name and Location
Azura Edo independent power plant (IPP) project, Edo, Nigeria.

Client
Azura Power West Africa.

Project Description
The project involves the development of a 450 MW (net) open-cycle gas turbine (OCGT) power plant covering 12.5 ha of a 102 ha site, located near Benin city, in the state of Edo.

The plant has been designed to accommodate the potential conversion to closed-cycle gas turbine, with a total net output of about 670 MW.

Associated facilities include an above-ground 300 kV transmission line, with two pylons, connecting the project site to the Benin North substation; and an underground gas pipeline spur about 1 km in length, connecting the power plant to Escravos Lago pipeline system.

Value
$654-million.

The International Finance Corporation (IFC) has been mandated to co-arrange the development finance institution (DFI) debt tranche with the Nigerian Federal Ministry of Finance (MoF), and is expected to invest in a loan of up to $125-million and comobolise the balance of DFI investment.

Duration
The project is expected to come into commercial operation in late 2016.

Latest Developments
The Azura Edo IPP has the full support of the federal government of Nigeria and is negotiating a tripartite agreement, to be signed between Azura, Nigerian Bulk Electricity Trading (NBET) and MoF, wherein the MoF will back-stop the payment owed to Azura by NBET, should the power purchase agreement be terminated.

Key Contracts and Suppliers
IFC (loan finance).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Azura Power West Africa, Nick Abolo-Tedi, email na@azurawa.com.