Azura Edo Power Station
Location of the Azura Edo Power Station
CountryNigeria
Location
Coordinates06°24′32″N 05°41′01″E / 6.40889°N 5.68361°E / 6.40889; 5.68361
StatusOperational
Commission datePhase 1 - May 2018
Owner(s)
Operator(s)
Thermal power station
Primary fuelNatural gas
Power generation
Nameplate capacity461 MW
External links
Websiteazuraedo.com
CommonsRelated media on Commons

The Azura-Edo Power Station is a natural gas-powered open cycle electricity generation plant, with a current operational capacity of 461 megawatts, located in Benin City in Nigeria.[1] This is the first phase of a three-phase construction project of a combined cycle gas plant with planned capacity of 1,500 megawatts.[2]

Location

The power station is located to the northeast of Benin City in Edo State, approximately 316 kilometres (196 mi), by road, east of Lagos, Nigeria's commercial capital.[3] This location lies approximately 465 kilometres (289 mi), by road, southwest of Abuja, the country's capital city.[4] The geographical coordinates of the power station are:06°24'32.0"N, 05°41'01.0"E (Latitude:6.408889; Longitude:5.683611).[5]

Overview

The Azura-Edo IPP is an open-cycle gas fired power plant. The power station is often referred to as the "Azura-Edo Independent Power Plant" or "Azura-Edo IPP", because the finance required to build the plant was sourced from the private sector, rather than from the government. The private sector owners of the plant took the construction risk. The post-construction risk and the operational risks are also borne by the plant's owners and their operations and maintenance contractors.[1]

Ownership

The power station is owned by Azura Power Holdings, an investment holding company for independent power projects in Africa. The majority equity investor in the Azura Power Holdings is Actis Capital, a private equity firm headquartered in London with US$7.8 billion under management. In 2004, it was spun-off from CDC Group, owned by the Government of the United Kingdom.[1][6]

The minority equity investors in the plant are include: 1. Africa50, a pan-African infrastructure investment platform. 2. Anergi Group, an energy company active in Africa's emerging economies. 3. Amaya Capital, an investment firm with a focus on the infrastructure sector in Africa and 4. The Edo State Government, which holds a 2.5 percent equity stake in the plant.[7]

Financing

The power station cost US$900 million to build. The financing was obtained from fifteen financial institutions, in nine countries.[1] The table below, illustrates the debt investors in the project. In addition, the International Bank for Reconstruction and Development (IBRD) provided partial risk guarantees; while the Multilateral Investment Guarantee Agency (MIGA) provided political risk insurance. Both IBRD and MIGA are members of the World Bank Group.[7]

Fund Sources for Azura Thermal Power Station
No.Name of LenderDomicile
1Overseas Private Investment CorporationUnited States
2CDC GroupUnited Kingdom
3ProparcoFrance
4German Investment CorporationGermany
5KfWGermany
6Netherlands Development Finance CompanyNetherlands
7Swedfund InternationalSweden
8International Finance CorporationUnited States  
9ICF Debt PoolCanada
10Emerging African Infrastructure FundMauritius
11Standard Chartered BankUnited Kingdom
12Rand Merchant BankSouth Africa
13Standard Bank of South AfricaSouth Africa
14Mauritius Commercial BankMauritius
15First City Monument BankNigeria
16Siemens BankGermany

Construction

Construction of the plant began in January 2016 under an Engineering, Procurement and Construction ("EPC") contract with a consortium comprising (a) Siemens AG of Germany (b) Siemens Nigeria Limited and (c) Julius Berger Nigeria Limited. Siemens also provided the turbines, generators, transformers and other electrical hardware. The plant was completed on 30 April 2018, six months ahead of schedule, a record achievement for a plant of this size.[1]

Nearly 5 million man-hours of labor were expended on the plant, without a single lost-time injury, and the names of all the developers and construction workers, numbering over 2,000 in total, are now inscribed on a brass plaque at the front of the plant's administration and control building.[8]

See also

References

  1. 1 2 3 4 5 Janine Stephen (28 June 2018). "The pacemaker: Nigerian power plant sets new benchmarks for building in emerging markets". Munich, Germany: Siemens Global. Retrieved 5 August 2020.
  2. ↑ Edo State (5 August 2020). "Invest Edo State: Power Potentials: The Azura-Edo IPP". Benin City, Nigeria: Edo State, Nigeria. Retrieved 5 August 2020.
  3. ↑ Google (5 August 2020). "Road Distance Between Lagos, Nigeria And Benin City, Nigeria" (Map). Google Maps. Google. Retrieved 5 August 2020.
  4. ↑ Google (5 August 2020). "Distance From Abuja To Benin City" (Map). Google Maps. Google. Retrieved 5 August 2020.
  5. ↑ Google (5 August 2020). "Location of Azura-Edo Power Station" (Map). Google Maps. Google. Retrieved 5 August 2020.
  6. ↑ CDC Group (5 August 2020). "Azura Power Holdings". London: CDC Group. Retrieved 5 August 2020.
  7. 1 2 Jon Whiteaker (13 January 2016). "Azura-Edo gas-fired, Nigeria". London: IJGlobal. Retrieved 5 August 2020.
  8. ↑ Emmanuel Addeh and Mary Nnah (4 August 2020). "Azura Deal Only Power Agreement that Works, Says MD". This Day. Lagos. Retrieved 5 August 2020.
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