Nigeria approves PPA between NBET and Kingline Power for a 550 MW power plant

The federal government of Nigeria has approved the PPA between the Nigerian Bulk Electricity Trading Company Plc and Kingline Power Limited for the construction of the 550 MW Ondo power plant. The project has an estimated cost of $550 million and so far, around $150 billion worth of equity has been raised for funding the plant. Debt financing, which is being arranged by Standard Chartered Bank, would be steered by development financial institutions and export credit agencies.

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