Anambra State Government has signed a Memorandum of Understandings, MOU, with Zolts Energy Limited, for the construction of a 40-Megawatt embedded power generating plant in Ogbaru Local Government Area of the state.
Governor Willie Obiano, said during the signing of the MOU that power being a key enabler in his administration’s development blueprint, is getting maximum attention from his government.
He stated that the latest MoU summed up to four of the total power companies that it had so far entered agreements with.
“The MoU with a total investment worth $47.25 million will see the company generate and sell electricity to the Enugu Electricity Distribution Company, EEDC.
“While the investor will put down $45 million as its equity contribution, the State Government on its part will add $2.2 million in addition to a grant for to the Special Purpose Vehicle, SPV, Certificate of Occupancy for the three hectares of land to be used for the project,” he said.
Obiano also said that the location of the proposed power plant near the Onitsha Industrial Layout is strategic to ensure that industries in the harbour get the required power to operate at a maximum capacity. He urged the investor to immediately hit the ground running, assuring that the State is committed to meeting its own side of the deal.
On his part, Chairman Anambra State Investment Promotion and Protection Agency, ANSIPPA, Mr. Joe-Billy Ekwunife, said the MoUis structured in line with international best practices in investment.