MAINSTREAM ENERGY SOLUTIONS LIMITED COMMENCES OPERATIONS

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Mainstream Energy Solutions Limited has commenced operations at the Zungeru hydropower plant; a significant milestone in Nigeria’s energy sector. The company, which won the concession almost a year ago, is now managing the newly built 700MW plant in Zungeru, facilitated by a $1.3 billion loan from China.

Under the concession agreement, Mainstream Energy is obligated to pay the Nigerian government $70 million annually for 30 years in exchange for operating the plant. CEO Audu Lamu emphasised the importance of managing the asset according to international standards to ensure its effectiveness.

The Zungeru power plant, Nigeria’s largest hydropower project, is expected to contribute approximately 1,202MW to the national grid. With the addition of two units to the existing eight at the Kainji hydroelectric plant, managed by Mainstream Energy, Nigeria’s power supply capacity is set to increase.

The project, funded by the China Exim Bank, not only aims to generate electricity but also to provide flood protection and water for irrigation. It is estimated to generate 2.64 billion kilowatt-hours of electricity annually; meeting a significant portion of Nigeria’s domestic energy needs.

Additionally, the Nigerian Electricity Regulatory Commission (NERC) has mandated power distribution companies to deliver 715,000 prepaid electricity meters in 2024; addressing the issue of arbitrary billing and meter shortages for millions of users across the country.

 

 

 

 

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