KEPCO Energy Resource Limited, KERL, has injected N46 billion in Egbin Power Plc since takeover in November 2013.
Managing Director/ Chief Executive Officer of Egbin Power Plc, Mr. Dallas M. Peavey, Jr, said this while receiving officials of the Bureau of Public Enterprises, BPE, who were on a monitoring visit to the enterprise at Egbin, Lagos State, recently.
A statement from the Head, Public Communications, BPE, Alex E. Okoh stated that the power plant which currently generates an average of 1,100MW recently had its first major overhaul in 30 years with a total overhaul of Units 4, 5 and 1, allowing these units to peak at its 220MWs each at its installed capacity.
Peavey said that the power plant which hitherto was operating less than 50 percent capacity prior to its takeover is now operating at over 85 percent with the fixing of Unit-06 which was not operational for eight years.
He revealed that preliminary work had commenced for the building of an extra 1,350MW Combined Cycle Plant.
The MD/CEO stated that 107 graduate engineers have been employed and are currently being trained for a year to progressively replace the aging population of the workforce; major overhaul of the demineralisation plant which was achieved by the recovery of Train B; the replacement of Turbine Vibration Monitoring Systems which assist in regulating the speed of the Turbine in the event of vibration to avoid a catastrophic failure; the renovation of the administrative building to a world-class work environment; construction of a Simulator Room to aid in training of operators and upgrade of Distribution Control System, DCS, for Units 4, 5 and 1 to the latest modern technology, as part of the achievements of the company since takeover.
He added that inadequate gas supply, non-payment or delayed payment of proceeds of power sales with an outstanding cumulative balance for 10 months amounting to over N40 billion; delay in disbursement of CBN intervention fund for legacy debt among others as the challenges facing the company.
Earlier, the leader of the BPE Monitoring Team, Mr. Ignatius Ayewoh, a Deputy Director (Post Privatisation Monitoring Department), said the purpose of the monitoring visit was to assess the performance of the power plant since takeover to ensure compliance with all the tenets covenanted with the government.
He commended the management of the company for the aggressive turnaround recorded so far, adding: “from what the team had seen on ground, Egbin Power Plc is up and running.”

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