Privatisation of Power Plants in Nigeria

Molete-Nare Investments through its interests in World Equity Pty Ltd is participating in a facilitating the realisation of 1000 megawatt gas fired power plants for Sapele Power in Nigeria.

The negotiations with Cummins and Sapele are currently underway.
Currently, Sapele Power Plc operates Nigeria’s second largest power plant with an installed capacity of about 1020MW, capable of meeting the energy needs of around 750 000 homes at full capacity.
As part of a competitive pre-qualification process, Eurafric-CMEC Consortium was invited alongside other consortia to submit technical and commercial bids for the acquisition of a 100% equity stake in Sapele Power Plc, owner of the 1020MW thermal power plant located in Ogorode, Delta State. Following its selection as preferred bidder, the Consortium incorporated Eurafric Power Limited to raise the required acquisition financing. As a result Molete-Nare Investments Pty Ltd through its interests in World Equity Pty Ltd is participating in a facilitating the realisation of 1000 megawatt gas fired power plants for Sapele Power in Nigeria. The negotiations with Cummins and Sapele have progressed significantly. The project between Cummins and Sapele will start with 40 megawatts and build up-to 300 megawatts.
In addition we are negotiating 700 megawatts with an experienced technical partner with financial muscle. The discussions are still in early stages however necessary high level appetite has been expressed.
It is anticipated that the synergy amongst the parties involved would deliver a clean and sustainable long-term solution for Nigerians. Upon this partnership, the plant will distribute electricity generated from the plant directly to the national Bulk Electricity Trading Plc, supplying millions of homes and business with clean power.


THERMAL POWER PLANT IN ZAMBIA

Molete-Nare and its associates are looking for investors to build a 340 megawatt plant in the Southern part of Zambia. The plant will significantly positively contribute to the energy shortfall that is currently experienced in Zambia. The location of the plant will be in SINAZOGWE town/village, in the Southern part of Zambia. The plant is estimated to be in the region of $900 Million. A power purchase agreement is in place.


SOLAR PLANTS INVESTMENTS
Molete-Nare and associates has been in discussion with different potential partners to invest in a solar plant in Zambia, Ethiopia and Mozambique. We have therefore been in discussion with different stakeholders in the three countries.

23 Frederick Road, Broadacres AH 2021, Sandton, Johannesburg, South Africa

  • Email: info@moletenare.co.za
  • Phone: +27 11 513 4043

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