ABUJA – Zuma Energy Limited, has said that the license issued to it to establish a coal-fire power plant from River Niger would enable it to improve power generation in the country.
The company’s Executive Chairman, Dr Innocent Ezuma, made this known in an interview with newsmen in Abuja.
Zuma Energy is one of the three companies that received water use license from the Federal Ministry of Water Resources on Wednesday for the purpose of establishing hydro power plants in the country.
“It is a very excellent milestone that is achieved; the most important resources that are required for coal-fire power plant are coal and water,
“In fact the water is even more than the coal; so with this license on board we are set to fly.“
Zuma Energy is expected to generate 1,200 megawatts from a coal fire power plant that it is expected to develop in Itobe, Kogi.
The executive chairman said that the company was determined to move to site by the first quarter of 2015 with an expected service delivery period of 24 months.
He said that the 24 months’ time frame was necessary as it would enable the company to put in place all necessary ancillary infrastructure for the project.
“Coal fire power plant normally takes time because you need to build a lot of ancillary infrastructure and 24 months is what we give ourselves,“ Ezuma said.
Other companies that received licenses are William Duncan Hydro Electric Power Limited and Hydro Belt Flow Limited.
While issuing the licenses to the companies, the Minister of Water Resources, Mrs. Sarah Ochekpe, had said that the issuance of the licenses was part of the Federal Government’s drive to improve power generation and supply in the country.
She, therefore, urged the companies to put them to good use as Nigerians would be expecting to benefit enormously from the projects.