Speaking at the ground-breaking ceremony for the expansion of Kainji Hydropower Plant – Units 1G3 & 1G4, Bello said the sector must adopt policies that would unlock and guarantee liquidity within the value chain to enable investors as well as financing institutions to make adequate return on investments.
“We must also adopt new technology, and stakeholders must note that rehabilitation and expansion is a dire necessity with no shortcut across the entire value chain. If this is done, we can guarantee a strengthened infrastructure for another 40 years,” he noted. “Also, payment of regulatory fees due to government denominated in foreign currency further impacts operators’ finances negatively in a volatile foreign exchange market.”
Managing Director of the company, Lamu Audu said in keeping to its Concession Agreement with the Federal Government, the company has recovered 542MW from Kainji and Jebba hydropower plants, bringing on a total available capacity to 1002MW.