Egbin Power to spend $40m to improve electricity generation

... introduces electric buses to reduce carbon emission

Management of Egbin Power plc has said the electricity generating company will spend about $40 million to overhaul its two units.

Each of the units, according to Temitope Shonubi, chairman of the company, will cost $20 million and this is in a bid to ensure continuous generation of electricity to consumers. The plant has six units with each generating 220 megawatts (mw) of electricity, with a total installed capacity of 1,320mw.

Speaking Tuesday on the unveiling of electric powered buses and bicycles as part of the company’s sustainability projects, Shonubi said the money would be generated from savings and borrowing from sources; but did not say whether the overhaul will affect its power generation.

Egbin currently has the capacity to evacuate 860mw of electricity but it now evacuates only 500mw, he said, attributing the challenge to gas problems and internal issues.

Presently, Nigeria generates about 5000mw on the average, a level far short of demand of over 20,000mw the country is expected to generate, at least to meet the needs of the almost 200 million people.

The idea behind the introduction of the electric buses and bicycles to serve its workforce within the facility is, in addition to enhancing movement, to promote clean energy, reduce carbon emission, and enhance quality of life by making the environment safer for the entire workforce.

An electric bus is a bus that is powered by electricity. The buses can store the electricity in its battery for continuous usage for about 48 hours. Ordinarily, electric buses are highly efficient and have lower operating costs than diesel buses.

The whole essence of our existence is all about ensuring whatever we do we try and always do it better every time, the chairman said, celebrating the Egbin Power plant workers that have helped in ensuring that the company is contributing its own quota towards the sustainability of the environment and improving human lives.

For us in Sahara Group we always say we are bringing energy to live, and this is not just talking it but also doing it, he said.

Today, based on the reality of where we are going, the value of TESLA, an electric car manufacturer, is higher than the value of Shell that produces oil, he said.

“An electric car manufacturer that is pushing technology versus the company that is producing oil, which we use today. This simply means that the values of the future in today’s world are more appreciated. And this is the kind of drive Sahara Group is pushing for,” he said.

For the stakeholders in Egbin, he said, if we look at the whole essence of existence, it is all about whole essence of innovation.