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Wednesday, 28 January 2015
Power Minister, Prof Nebo launches PPA Handbook
The Federal Government through the Ministry of Power, has provided guidelines for power firms in order to efficiently sign the Power Purchase Agreements with the Nigerian Bulk Electricity Trading Company.
The PPA requirements have been made in a handbook in order to ease and speed-up the signings of future agreements with the NBET.
Launching the handbook entitled: ‘Understanding Power Purchase Agreements,’ the Minister of Power, Prof. Chinedu Nebo, stated that the PPA was the instrument with which the NBET would manage risks in the electricity market, adding that the initiative had encouraged various foreign investors to invest in the Nigerian power sector.
The honourable minister further explained that the PPA was a durable agreement to cement the predictability and durability that was needed for any long-term business venture.
In conclusion, the minister observed that the PPA would ensure the growth that was required for new investments in the sector.
Speaking on his achievements, the minister couldn't help but thank the Goodluck Jonathan led administration for giving him the opportunity to take charge of the Power sector, which remains one of the most talked about in the country after petroleum ministry.