Akwa Ibom State government has firmed up an agreement with African Delta Power Limited to add additional 366 megawatts to the existing 191 megawatts to the state Ibom power plant.
The new deal shows that the aggregate maximum capacity of the gas turbine generator unit was capable of producing up to 732 megawatts.
As it stands, Ibom Power will need to apply to the National Electricity Regulatory Commission, NERC, for licence expansion as the company has an on-grid license for 685MW.
State Attorney-General and Commissioner for Justice, Uko Udom, SAN, signed the deal on behalf of the state government, while the Board Chairman of Ibom Power, Etido Inyang and Secretary of the company, Ime Asibong, signed for Ibom Power and Jemeriah Oluwaseun and Christabel Nwagum (CEO of African Delta and Secretary respectively) signed the agreement on behalf of African Delta Power.
The ceremony took place at the office of the Secretary to Akwa Ibom State Government and Chairman of the One-Stop Shop on Investment Committee, Dr. Emmanuel Ekuwem.
The proposed power plant will be developed as part of Phase II of the IPP.
The SSG said the agreement was "not an MoU but rather a step further, which has transited the MoU phase."
He said the proposed power project is under the 'Power for All' initiative of Governor Udom Emmanuel, which was inaugurated about two years ago by the Vice President, Prof. Yemi Osinbajo.
Ekuwem urged the investors to follow up the agreement by living up to the letters as enshrined in the terms of the contract.
On the implementation of the project, the One-Stop-Shop on Investment Committee Chairman urged the African Delta Power team to speed up the processes and abide by the roadmap agreed to by government for the project.