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Source: Pixabay

Nigeria Announces $5.8 Billion Deal To Build Country's Largest Power Plant

By Brian Spaen

Nigeria is building its biggest power plant and it’s going to be hydroelectric. The government announced this week that they will be investing $5.8 billion into the massive power plant that should be completed in the next six years. By creating this new facility, it should help extend green power to rural areas as the country attempts to move away from fossil fuels.

The Mambila hydroelectric power plant will be located in the state of Taraba in Nigeria. It will feature a capacity of 3,050 megawatts with four dams that are up to 500 feet tall. The government itself will be financing 15 percent of the funding itself while 85 percent is coming from the Chinese Export-Import Bank.

Babatunde Raji Fashola, the Minister of Power, Works, and Housing in Nigeria, explained the benefits of the new facility in a statement: “During its construction and upon completion, and subsequent operation, it will have considerable positive impact on electricity supply nationwide, productivity, employment, tourism, technology transfer, rural development, irrigation, agriculture and food production in the area and beyond.”