Big Plans Ahead for Nigeria...

A recent article from Power-Gen Worldwide discusses a large investment that the nation of Nigeria, private investors and international development and finance agencies will be making over the course of the next four years. Nigeria has recently fallen victim to power shortages that have begun to affect the country's infrastructure. The new project, which will cost the country and investors around $3.5 billion, will be implemented in order to increase the electrical output of the country from that of a 330/132 kV electrical grid to the new 700 kV grid, effectively more than doubling their energy supply. In the article from Power-Gen Worldwide, the president of Nigeria, Goodluck Jonathan, was paraphrased regarding the state of the nation:

"Nigeria suffers from acute electricity shortages and President Jonathan has made increased power supplies a key part of government policy ahead of national elections scheduled for January. A reform of the power sector will be announced on 26 August, the presidency said. This will include a greater role for private-sector investors. Nigeria has urged its main upstream partners, such as Shell and Chevron, to increase gas supplies to the domestic market to increase power generation capacity. Most of the country's gas is supplied to the 22m tonnes/year Nigeria LNG plant on Bonny island or flared off."

This news is important for several reasons. First off, it serves as an excellent example of developing nations realizing that in order to prosper, major changes need to be implemented regarding power generation in order to facilitate the country's rapid expansion as new technologies become available to them. Secondly, this is an incredible opportunity for power generation investors to get in on the ground floor of a potential emerging world power. Finally, this news is important because it shows that the power generation industry is not something that can be affected by the now world-wide recession, even in developing nations. There are evidently good things on the horizon for those of us in the power generation industry.

To learn more about Power Generation Technology, check out Power and Composite Technologies:

www.pactinc.com

To read the article from Power-Gen Worldwide, click this link:

http://www.powergenworldwide.com/index/display/articledisplay/0386927987/articles/powergenworldwide/t-and-d/t-and-d-infrastructure/2010/08/nigeria-sets_out_plans.html