SIPP signs EPC contract with China Energy for 400MW construction

Sagamu Independent Power Plant Limited which is a subsidiary of the Nigerian Company and private developer in power and infrastructure has forayed into Engineering, Procurement and Construction contract with China Energy Engineering Corporation Limited (Energy China) for construction  of 400 MWWs Sagamu IPP.

It is to be noted that Nigerian Electricity Regulatory commission (NERC) has rated Eko Electricity Distribution Company (EKEDC) as the best distribution company on all performance indices for the year 2017.

With the EPC contract finalized, Energy China will now proceed with the implementation/ construction of the plant estimated to cost $550 million.

Managing Director/CEO of SIPP Limited, Samuel Marcus said “The Execution of the EPC contract marks a significant milestone for the project and a major step forward in our objective of meeting the Energy needs of Nigeria. Energy China is leading the financing of the project with strong support from International banks in China. We expect to achieve Financial Close by Q3 2018.”

Construction of the plant is due to commence in 2018 and the plant will start operations in 2020. In a related development, NERC has rated Eko Electricity Distribution Company (EKEDC) as the best distribution company on all performance indices for the year 2017.