Proton Energy Begins Power Plant Project, Discos In Heavy Debt

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Proton Energy Begins Power Plant Project, Discos In Heavy Debt

Proton Energy flags-off 150MW power generation plant in Delta

Proton Energy Limited recently launched a $250m worth Power generation plant project. This plant which is located in Delta state is set to contribute about 150MW to the grid in the country. The Chief Executive Officer and Executive Vice-Chairman of Proton Energy Limited, Mr. Oti Ikomi said the project would be funded through direct foreign investment and would be completed by 2020.

Ikomi stated about 1000 workers would be employed during the construction stage which he said would take two years and urged the federal government to diversify the nation’s economy through more investments in power to drive the country’s industrialization and business growth.

Six Households Exposed For Electricity Theft In Port Harcourt

Discos Will Be Insolvent If FG Collects N536bn Debt – Fashola

The Minister of Power, Works and Housing, Mr. Babatunde Fashola has stated that the 11 electricity distribution companies (Discos) in the country will face insolvency proceedings and wind up if the federal government forces them to pay debts exceeding N536 billion that they owe the Nigerian Bulk Electricity Trading Plc (NBET) and the Market Operator (MO).

Fashola also reminded the electricity distribution firms that as they keep pressing for the debts owed them by the ministries, departments, and agencies (MDAs) of government, they should also talk about the debts they owe NBET and MO, which the federal government has not forced them to pay.

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