Mainstream Energy Solution today took over the $1.3 billion Zungeru Hydro Power Plant, after winning the bid for the plant in a competitive bidding process.
The Executive Director, Corporate Services of Mainstream, Mr. Usman Umar, while conducting journalists round the plant said that the deal was in fulfilment of his company's goal of maintaining its leadership position in the nation's electricity generation.
The power plant built to generate 700 MW is located in the ancient town of Zungeru, Niger State.
Speaking on the impact of the concession, Mr. Umar said it would meet Mainstream growth objectives in clean energy generation.
His words, "Two or three years ago, the company decided to pursue a growth programme. We wanted to grow. Growth can.be through acquisition or organically.
"We have the feeling of satisfaction that you derive from setting an objective and achieving it."
The ED said that his company was committed to operating the brand new Zungeru plant build with a Chinese loan in the most efficient manner in the interest of the Nigerian economy.
The concessioning of Zungeru Power Plant, the newest hydro power plant in the country, was won by Penstock Energy, a wholly owned subsidiary of Mainstream Energy Solution Limited.
It has four Units and fed with a large dam With a reservoir capacity of 10 billion cubic metres.
With addition of Zungeru, he said that hydropower has become the major source of electricity in the country and with the global move towards renewable energy, more Hydro power plants should be encouraged.
On the challenge of electricity transmission, Mr. Umar said that Mainstream would continue to support the federal government in its programmes towards strengthening the national grid.
According to him, if the power generators ramp.up electricity generation without improved capacity of Transmission Company of Nigeria to wheel such power, the generation companies' businesses would suffer.
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He expressed optimism that the deal with Siemens and the new pact arrangement with the Chinese would result in a significant increase in transmission capacity in the interests of stakeholders in the industry and consumers, in patticular.
The Chief Technical Officer of Mainstream, Mr. Jose Villegas, revealed that with latest addition, the company would be generating about 1, 202 MW into the National Grid.
He added two more units would be added to the current eight units Kainji, bringing the total number to 10 in that plant.
