Ibom Power

Ibom Power Company Limited (IPC) is one of the first independent power plants in Nigeria. It was incorporated in 2001 as a private limited liability company under the Companies and Allied Matters Act (CAMA). In May 2008, the company received a 191MW license from the Nigerian Electricity Regulatory Commission (NERC) to generate electricity. In November 2015, NERC amended the license to increase Ibom powers generating capacity from 191Megawatts to 685Megawatts to accommodate both the 191megawatts Phase 1 and the proposed 500megawatts Phase 2. Ibom power receives gas from Accugas, a subsidiary of Savanah Energy, based on a 10-year Gas Sales and Purchase Agreement (GSPA) through a Gas Processing Facility (GPF) at Uquo in EsitEket LGA and a Gas Receiving Facility (GRF) in Ikot Abasi. The plant output is evacuated to the national grid through a 49km 132kV transmission line from Ikot Abasi to Eket, 132/33kV substation. The Nigerian Bulk Electricity Trading Company Plc. (NBET) is the of...