The Federal Government says it subjecting the 50 per cent reduction in the Mambilla Hydroelectric Power project installed capacity to an independent review.
The Federal Ministry of Power stated that the government was currently reviewing the revised capacity independently to validate it.
It added that both the potential lenders, project contractors and consultants of the Mambilla Hydroelectric Power project now believed that the project bankability would be improved by increasing the project Plant Factor.
It also said that the plant factor was being increased from the current level of less than 20 per cent to at least 40 per cent.
“This change comes with the opportunity of reducing the project capital cost and potential power tariffs of the project,” it added
According to the Ministry:“It is, however, to be noted that the reduction in the project installed capacity from 3,050MW to 1,525MW, while it will increase the project bankability, it will not necessarily reduce the annual gigawatt-hour of energy output from the project in any significant way.The Federal Government of Nigeria is currently subjecting the project to independent review with a view to validate the recommendation by the Presidential Project Delivery Committee.”
