"MOAM – Bakana Power Plant 250 MW – Rivers - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.
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Missouri American Energy, USA (MOAM), a subsidiary of Onwa Group, Inc, is planning to undertake the combined cycle power plant in Rivers State, Nigeria.
The project involves the construction of a 250MW combined cycle power plant. It includes the construction of a powerhouse, a gas storage unit, a substation and related infrastructure, the installation of transformers, turbines and generators, and the laying of transmission lines.
Novi Energy has provided services related to study on renewable energy; however MOAM is negotiating with another consultant to provide further technical studies.
The primary source of financing for the project is anticipated to be in form of loan guarantees by the EXIM Bank for about 70% to 85% and Additional funding will be obtained via Private Equity Investment and Private Lenders via Preferred Shares, Development Finance Institutions (DFI).
In January 2015, MOAM signed a memorandum of understanding (MoU) with Federal Ministry of Power & Steel to develop the project.
U.S. Trade and Development Agency was appointed as the associated developer.
Preliminary designs are underway and MOAM is in negotiations with the Federal Ministry of Power & Steel over the relocation of the project from the current location due to issues in the preferred location.
The project involves the construction of a 250MW combined cycle power plant in Rivers State, Nigeria.
The US$344 million project includes the following: