Industry Information

Industry Information

PGI Energy JV to Develop 1,000 MW Power Plants in Nigeria

PGI Energy and its joint venture partners J&L Instrumentation & Power and Knox J&L Energy Solutions will construct several 1,000 MW power plants in Ajaokuta, Nigeria.

PGI Energy will provide funds for the $700m scheme through US-based investment bank Pythagoras Group.

The projects have secured long-term power purchase contracts and will be built on an engineering, procurement and construction basis, the company said.

The companies will share profits on a 50:50 ratio.

Source: http://www.power-technology.com