Power Africa has supported the development of electricity generation projects in Nigeria. In addition, various firms have received U.S. Embassy support to move transactions forward. The page below shows Power Africa's involvement and lists Power Africa’s financially closed transactions in the country, some of which are already online and generating critical electricity supply for the people of Nigeria.

Image

POWER AFRICA SUCCESS STORIES IN NIGERIA

Power Africa Partners with Nigeria on its Clean Energy Transition

Image

Since 2018, Power Africa has been a key player in Nigeria's push towards cleaner energy through its support of the Nigeria Gas Flare Commercialization Programme (NGFCP). By supporting the NGFCP, we're not only helping to stop harmful gas flaring and turn it into a valuable energy source, but we're also advancing Nigeria's larger goal to end flaring by 2030. This effort will reduce carbon emissions and expand energy access, driving economic opportunities and environmental progress in the process. READ MORE

Investing in Infrastructure to Spur Development in Nigeria

Image

Nigeria has a booming population, one of the challenges it has created is developing and maintaining energy infrastructure to meet an ever-growing demand. Over the past couple of years, Power Africa has partnered with USAID Nigeria, Prosper Africa, and Chapel Hill Denham to increase the amount of local private capital flowing into Nigeria's critical infrastructure. As a result, domestic institutional investors have invested billions (in the local currency) to expand renewable energy infrastructure, boosting economic self-reliance, and reducing dependence on external funding. READ MORE

Powering Change in Rokota, Nigeria

---

Energizing Gender Equality and Social Inclusion in Nigeria

Image

This blog provides actionable and effective steps to mainstream gender equality and social inclusion (GESI) in energy sector ministries, departments, and agencies. READ MORE

---

Paving a Path for a More Inclusive and Diverse Power Sector

 

Image

A Power Africa study examines the key factors affecting social exclusion and lack of diversity in Nigeria’s power sector and provides recommendations on how to build diversity and inclusion across power sector policies, workforce, and value chain. Learn more about the study and download it from our blog

Meter Installation Brings Widespread Power Sector Benefits in Nigeria

Image

In Nigeria, two federal government metering programs have installed over 1.4 million meters and aim to install another 5 million by the end of 2023! Power Africa is supporting government entities and distribution companies to implement and monitor these programs and to develop Nigeria’s first-ever meter policy to close the metering gap and bring reliable, affordable electricity to homes across the country. Learn more about our support on our blog

Promoting Gender Smart Investing in Nigeria

In Nigeria, Power Africa is working with investors to share gender smart investing best practices to increase women’s access to energy services and boost equal participation in the sector. In December 2021, Power Africa hosted a gender smart investing workshop to provide a framework and tools for off-grid clean energy financiers in Nigeria including three steps through which to incorporate gender equality into investment portfolios and put these best practices to action in an engaging case study. Learn about our three-stip approach on our blog

Training the Next Generation of Women to Lead Nigeria’s Energy Sector

Image

In Nigeria, the Power Africa Aspire Women’s Leadership Development Course has equipped more than 500 women professionals in the energy sector with the skills they need to advance and excel in their careers.

READ MORE on our blog

Firing Up the Afam Power Plants: Power Africa Support Brings $344 Million Power Transaction to Financial Close in Nigeria

Image

The Nigeria Bureau of Public Enterprises engaged Power Africa to provide technical advisory support to evaluate submitted proposals, select a preferred bidder, and ensure that the transaction was a success.

By acting as an independent facilitator and advisor to this transaction, we were able to provide inputs on leading international practice, evaluate the Performance Agreement to ensure that implementation commitments and milestones were accurately captured, and that any potential gaps were highlighted

“Power Africa was instrumental in providing ongoing support to the Bureau for the Afam privatization transaction,” shared Yunana Malo, Director of Energy at the Bureau of Public Enterprises. “The team provided insights, analysis, and knowledge that expedited the transaction to financial close and ensured that the Federal Government of Nigeria received full value from the transaction.”

READ MORE about Power Africa's role in this transaction on our blog

POWER AFRICA FINANCIALLY CLOSED TRANSACTIONS IN NIGERIA

Updated: May 02, 2019

First Independent Power - Afam (Natural Gas – 180MW)

Financial Close Date: 09/25/2013
Commercial Operations Date: 12/29/2017
Estimated Project Cost: $N/A
Overview: The First Independent Power Limited/Afam power plant was privatized as part of Nigeria's efforts to restructure and reform the energy sector. USAID provided technical assistance to the Bureau of Public Enterprises (BPE) and the Nigerian Bulk Electricity Trading (NBET) Plc. by reviewing and commenting on project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation. First Independent Power Limited/Afam is a licensed power generation company, which owns and operates power plants in Rivers State, Nigeria and was incorporated in 2006. The project reached financial close in September 2013.

First Independent Power - Elema (Natural Gas – 75MW)

Financial Close Date: 09/25/2013
Commercial Operations Date: 12/29/2017
Estimated Project Cost: $N/A
Overview: The Elema Power Plant was part of Nigeria’s efforts to restructure and reform the energy sector. USAID supported the efforts to privatize the Elema Plant by providing technical assistance to the Bureau of Public Enterprise (BPE) and the Nigerian Bulk Electricity Trading (NBET) Plc. by reviewing and commenting on drafts of the support agreement; project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation. First Independent Power Limited/Elema (Nigeria) is a licensed power generation company, which owns and operates power plants in Rivers State, Nigeria and was incorporated in 2006. The project reached financial close in September 2013.

First Independent Power - Omoka (Natural Gas – 25MW)

Financial Close Date: 09/25/2013
Commercial Operations Date: 12/29/2017
Estimated Project Cost: $N/A
Overview: The Omoka power plant was part of Nigeria’s efforts to restructure and reform the energy sector. USAID assisted in the privatization efforts by providing technical assistance to the Bureau of Public Enterprise (BPE) and the Nigerian Bulk Electricity Trading (NBET) Plc. by  reviewing and commenting on drafts of the support agreement, project agreements, credit and reimbursement agreements, partial risk guarantees, letters of credit, and other related documentation. Incorporated in 2006, First Independent Power Limited (Nigeria) is a licensed power generation company, which owns and operates power plants in Rivers State, Nigeria. The project reached financial close in September 2013.

Kainji Power--Jebba Hydro Power Station (Privatized Asset) (Hydro – 96.4MW)

Financial Close Date: 11/01/2013
Commercial Operations Date: 12/29/2017
Estimated Project Cost: $N/A
Overview: Kainji Plc consists of two hydroelectric power plants – Kainji Hydroelectric power plant (Kainji HEP) and Jebba Hydroelectric power plant (Jebba HEP) located in the Kainji and Jebba regions of Northern Nigeria. Kainji Plc was part of Nigeria's efforts to restructure and reform the energy sector, which included privatization of state-owned energy assets. The Jebba plant is one of Nigeria’s cheapest and steadiest suppliers of electricity and USAID supported the rehabilitation of its generation capacity. USAID assisted in the privatization efforts by providing technical assistance to the Bureau of Public Enterprise (BPE) and the Nigerian Bulk Electricity Trading (NBET) Plc. This included reviewing and commenting on drafts of the support agreement; project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation. Those involved in the project included Guarantee Trust Bank and Power Africa Partners Africa Finance Corporation (AFC) and the African Development Bank, which committed to a $68 million debt financing facility to Mainstream Energy Solutions Limited consortium for the acquisition of the Kainji Power Plc. This project reached financial close in November 2013.

Kainji Power--Kainji Hydro Power Station (Privatized Asset) (Hydro – 540MW)

Financial Close Date: 11/01/2013
Commercial Operations Date: 12/29/2017
Estimated Project Cost: $456.5M
Overview: The Kainji PLC was privatized as part of Nigeria's efforts to restructure and reform the energy sector. Kainji consists of two hydroelectric power plants – Kainji Hydroelectric power plant (Kainji HEP) and Jebba Hydroelectric power plant (Jebba HEP) located in the Kainji and Jebba regions of Northern Nigeria. The Kainji plant is one of Nigeria’s cheapest and steadiest suppliers of electricity and USAID supported the rehabilitation of its generation capacity. USAID assisted in the privatization efforts by providing technical assistance to the Bureau of Public Enterprise (BPE) and the Nigerian Bulk Electricity Trading (NBET) Plc. This included reviewing and commenting on drafts of the support agreement; project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation. This project reached financial close on the project in November 2013.

Olorunsogo I (Privatized Asset) (Natural Gas – 213.1MW)

Financial Close Date: 12/23/2013
Commercial Operations Date: 11/30/2015
Estimated Project Cost: $117.3M
Overview: The Olorunsogo I power plant was privatized as part of Nigeria's efforts to restructure and reform the energy sector. USAID assisted in the privatization efforts by providing technical assistance to the Bureau of Public Enterprise and the Nigerian Bulk Electricity Trading (NBET) Plc. This included reviewing and commenting on drafts of the support agreement; project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation. This project reached financial close in December 2013 and was commissioned in November 2015.

Omotosho I (Privatized Asset) (Natural Gas – 74MW)

Financial Close Date: 08/14/2014
Commercial Operations Date: 11/30/2015
Estimated Project Cost: $217.5M
Overview: Power Africa deployed two embedded advisors (legal and commercial) and additional short-term technical assistance to the NDPHC in support of its efforts to finalize the privatization and sale process for five key Nigeria National Integrated Power Projects Plants (Independent Power Producer) by March 2018, including the Omotosho power plant. The Niger Delta Power Holding Company (NDPHC) estimates that the privatization of the five plants will yield up to an additional 1,700 MW. USAID has also assisted the Bureau of Public Enterprises in this privatization exercise as well as the Nigerian Bulk Electricity Trading (NBET) Plc. through its PPA negotiations.

Sapele Power (Privatized Asset) (Natural Gas – 940MW)

Financial Close Date: 11/01/2013
Commercial Operations Date: 12/29/2017
Estimated Project Cost: $434M
Overview: This transaction was part of Nigeria's efforts to restructure and reform the energy sector. USAID assisted in the privatization efforts by providing technical assistance to the BPE and NBET. This included reviewing and commenting on drafts of the support agreement; project agreements; credit and reimbursement agreements; partial risk guarantees; letters of credit; and other related documentation.

Ughelli Power (Privatized Asset) (Natural Gas – 220MW)

Financial Close Date: 11/01/2013
Commercial Operations Date: 09/30/2015
Estimated Project Cost: $600M
Overview: The  Ughelli Power Plant was privatized and ownership was transferred from the government of Nigeria to Transcorp Power Limited. Ughelli Plant is a gas-fired thermal plant located in Ughelli, Delta State in the Niger Delta region of Nigeria, and is an asset of Transnational Corporation of Nigeria Plc. (Transcorp)’s power subsidiary, Transcorp Ughelli Power Limited. USAID supported the project through options for credit-enhanced long-term financing. Other partners included the United Bank of Africa. This project reached financial close in November 2013 and was commissioned in September 2015.

Azura-Edo (Natural Gas – 450MW)

Financial Close Date: 12/28/2015
Commercial Operations Date: 12/31/2018
Estimated Project Cost: $600M
Overview: Power Africa’s engagement on this transaction has been extensive. Initially, through its support to Nigerian Bulk Electricity Trading (NBET), Power Africa assisted with the power purchasing agreement negotiations, and with the development of the Put/Call Option Agreement, which was adopted in lieu of a government guarantee. In 2015, the U.S. Government worked to facilitate President Buhari’s decision to waive compliance with a Presidential circular for the project. Power Africa transaction advisors helped with the final steps needed for the transaction to reach financial close. Aldwych, a Power Africa partner and the Overseas Private Investment Corporation teamed up to bring the Azura gas project to financial close. The World Bank’s Multilateral Investment Guarantee Agency (MIGA) and additional Power Africa Partners also played critical roles towards financial close.

Egbin Power (Privatized Asset) (Natural Gas – 220MW)

Financial Close Date: 11/01/2013
Commercial Operations Date: 12/29/2017
Estimated Project Cost: $407.3M
Overview: Egbin Power Project is a result of the Bureau of Public Enterprises (BPE) (Nigeria) privatization of the country’s largest power company, Egbin Power PLC. The company is now 70 percent owned by a joint venture between Korea Electric Power Corp and the Sahara Group conglomerate (Nigeria), which has interests in power distribution. The other 30% is held by the Government of Nigeria. The Egbin Power Project restored 220 MW of lost generation capacity from under-investment. USAID worked with NBET to finalize the PPA to permit privatization. This project achieved financial close in November 2013.