Azikel Power

Azikel Power Ltd., which was licenced in 2015 for on-grid power generation for 500MW, has commenced the development of its power plant as a strategic alignment with the Nigerian Government Power Sector Transformation agenda. The Azikel Power Plant Project is structured to be an Independent Power Plant (IPP). It is sited at Obunagha Gbarain, adjacent to Shell Petrolem Development Company Gas gathering facility, which has a daily gas production of more than 1.7 billion cubic feet. The first phase of Azikel Power generation includes construction of a combination of highly efficient, low-emission, open-cycle gas turbines, which are powered by gas and heavy fuel oils.

In line with the Nigerian Power Sector Reforms and Privatization, Azikel Power Ltd. obtained its greenfield licence in power generation during the President Muhammadu Buhari Administration in the last quarter of 2015. Azikel Power is streamlined to take advantage of the Nigerian Government Gas Master Plan that is promoting new gas-fired power plants to help reduce gas flaring and provide much-needed electricity generation for the region.

Azikel Power was formed in 2012 by billionaire businessman Dr. Eruani Azibapu to participate in the government sale of the first 10 IPPs in Nigeria. In the initial privatization process and bid round, Azikel Power submitted a bid for a 240MW power plant, situated in Bayelsa. Unfortunately, the company came in second position and lost the bid. Azikel Power was then offered a reserved bidder position for the Gbarain Power plant. Dr. Eruani launched his bid for the greenfield licence for power generation, and this bid yielded results with Azikel Power being granted licence for the 500MW on-grid power generation plant in 2015.