Proton Energy Limited has signed a project award agreement for the 150 megawatts power plant construction planned for Sapele, Delta State.
The company's Executive Vice-Chairman, Oti Ikomi, the General Manager, CMEC China, Cha Quin and the President, Global Power & Gas Sales, Siemens, Karim Amin, signed the agreement in Beijing, China.
According to a statement, the agreement was signed on the sidelines of the Siemens organised Belt & Road International Summit held in Beijing, China recently.
This project award agreement followed the site ground-breaking ceremony for Proton Delta Sunrise Project, a gas-fired power plant in Sapele Local Government Area of Delta State, recently.
The Proton Delta Sunrise project is part of efforts to improve electricity generation in the country by Proton Energy Limited a power plant development company.
Ikomi, had disclosed during the site ground-breaking ceremony that the project with $250 million of foreign direct investment would enhance economic growth in Delta and the country at large.
"This project will be attracting close to 250 million US dollars of foreign direct investment into Nigeria, assisting industrialisation, business and job growth in the country, in Delta State and in particular here in Sapele where up to 1000 jobs will be utilized during construction," he had said.
He stated that the target of the project was to contribute to the national infrastructure growth by adding over 1,500MW over the next five to eight years.
According to him, the plant would be upgraded to 500megawatts in the second phase.
He explained that the project was based on the collective desire of the management of the company to make meaningful contributions to the development of the country and the realisation of the need for sustained private sector-led independent power plant development for the country and to tackle the energy deficit.