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FG approves N525bn for super grid….projects 7000 mws by 2011

Source: huhuonline.com
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The Federal Government yesterday approved a whopping $3.5 billion equivalent of N525 billion for the construction of a new 700 KV SuperGrid aimed at shoring up power generation capacity to 7000 mega watts by April 2011.

The approval which was endorsed by President Goodluck Jonathan , after a meeting with the Presidential Action Committe on Power (PACP), at the Presidential Villa, Abuja is completed in four years.

Ima Niboro, special adviser on media and publicity said in a statement that '$3.5 billion power project is expected to fulfill Nigeria 's need to transmit increasing amounts of power across vast distances which the existing 330/132KV grid cannot meet'.

Niboro stated that 'in granting approval for the SuperGrid President Jonathan directed that it should be funded as a federal asset with additional financing from private investors and international finance and development agencies'.

'The SuperGrid which will run along the same route as the existing 330/132KV grid will also address Nigeria 's future energy challenges including transition to more sustainable energy sources , reduction of power loss per transmitted megawatt and improving power voltage profiles across the country,' he stated further.

The presidential spokesman said 'the huge advantage of the 700 KV supergrid over the existing 330/132 KV grid is that it will significantly reduce the huge amount of power currently lost in transmission'.

He said that 'without the supergrid, the quantum of power lost in transmission will continue to increase as more power progressively becomes available for evacuation from new and rehabilitated generating stations. Periodic systemic failures will also become more frequent'.

Niboro said ' Nigeria 's available generation capacity will rise to 6939 MW by April next year and 14019 MW by December 2013.In another development, President Jonathan will on Thursday, August 26, 2010 present a new roadmap for the reformation of Nigeria 's power sector to the country's private sector'.

He said President Jonathan will on Thursday, August 26, 2010 present a new roadmap for the reformation of Nigeria's power sector to the country's private sector

According to him 'President Jonathan will seize the opportunity of the event in Lagos to  acquaint members of the private sector with fresh investment opportunities inherent in the power sector reform programme and invite greater private sector support for the programme'.