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Gas pipeline project makes power more affordable

A US$15million loan from EAIF supported Tower Power’s 2011 US$21.30 million project at Abeokuta in Nigeria. The company’s new 12.5MW electricity generating plant uses local gas previously flared off and wasted.

June 2011

Tower Power Abeokuta Ltd

Nigeria
Nigeria
Energy Generation, Transmission & Supply
Energy Generation, Transmission & Supply
Overall: US$ 21.3m
EAIF: US$ 15m

The new plant brings dependable power to industrial companies in Abeokuta, which is an important business hub. Reliable supply will help business productivity and add to job security at local manufacturing and process companies. 10 new full time jobs have been created at the power station.

In introducing new capacity for industry, the development has the additional benefit of reducing pressure on the national grid. The project has also grown the market for Nigerian natural gas.

Applying for project support

If you are looking for debt finance for an infrastructure project in sub-Saharan Africa please talk to us.

EAIF mainly supports private sector infrastructure projects to create new or expand existing facilities. We welcome enquiries from companies in Africa and worldwide that want to grow their businesses in sub-Saharan Africa and share our commitment to the continent and its peoples. Enquiries are also welcome from  financial advisers and specilaist consultants.