MESSAGE FROM THE CEO
Greetings to all employees, customers, stakeholders, regulators and members of the community. This is Ibom power update for the first quarter of 2017.
We are glad to announce the resumption of our plant operation as Accugas restored gas to Ibom power plant on the 12th of February, 2017. We have since started adding an average of 105Megawatts daily to Nigeria’s total power generation.
Within this first quarter, the Nigerian power sector witnessed some significant occurrences; the most notable was that Ibom power and other power plants across the country increased power generation to over 4,000Megawatts.
Also within the quarter, Federal Government appointed an interim MD/CEO for the Transmission Company of Nigeria (TCN), the Commissioners of the Nigeria Electricity Regulatory Commission (NERC) were inaugurated while over N700bn Power Assurance Guarantee was approved for the Nigeria Bulk Electricity Trading Plc (NBET). It is our hope that subsequent decisions and actions will further mitigate the challenges in the Nigerian Electricity Supply Industry (NESI).
At Ibom Power Company Limited, we have begun the process for the Turn-Around Maintenance (TAM) on our GE Frame 9E (GTG-3) with 115Megawatts installed capacity. It is a standard procedure that a plant like our GTG-3 should do a Turn-Around Maintenance after running for up to 26000hrs but GTG-3 has run for over 30000hrs without maintenance hence, the importance of this exercise.
We have also commenced work on our GE Frame 6 (GTG-1) that was previously commissioned but crashed after running for about 10000hrs. In-house team has been engaged to start a critical evaluation of the Unit. When the repair on GTG 1 is completed, all our units (GTG 1, 2 and 3) will be operational and our plant will be producing at full 191Megawatts installed capacity by the end of the year.
Our vision is to become and remain the best growth and innovation generating Company in Nigeria with steady dividend payment driven by excellent employee incentives, customer satisfaction and corporate governance. Cheers!
OVERVIEW OF IBOM POWER COMPANY
Ibom Power Company (IPC) is one of the first independent power plants in Nigeria. IPC was incorporated on the 15th January 2001 by Akwa Ibom Investment and Industrial Promotion Council “AKIIPOC” under the Corporate Affairs Commission (CAC). The company was licensed by the Nigerian Electricity Regulatory Commission (NERC) on the 12th of May 2008. Read More
LEADING THE WAY IN POWER GENERATION FOR OVER A DECADE
Current Generation Capacity (MW)
Days without plant failure