Century Power Generation
Century Power Generation Limited (CPG) was incorporated in 2011 to carry out electric power generation as part of efforts to increase Nigeria’s electricity generation capacity. Our operational base is in Okija, Anambra State, where we are working with the Federal Government of Nigeria and respected foreign technical partners to deliver an IPP project.
The Okija IPP project has a well-rounded, world-class team of Advisors and Lenders, led by Standard Chartered Bank (UK) as the Structuring Bank, Clifford Chance (UK), and Ikeyi & Arifayan (Nigeria) as the international and local legal counsel, a consortium of GE and Daewoo E&C as the EPC contractor, AF-Consult (Switzerland) as the Owner’s Engineer, and Afrinvest West Africa Limited (Nigeria), KPMG (Nigeria) and INDECS Consulting Limited (UK) as the Equity, Tax, and Insurance Advisors, respectively. The project has made significant progress in its initial development stages and has successfully secured Transmission Company of Nigeria (TCN) approval to evacuate power on its existing Alaoji – Onitsha transmission lines that traverse the project site.
We are in the process of negotiating a Gas Supply Agreement (GSA), as well as a Gas Transport Agreement (GTA) with a gas supplier that has adequate gas reserves to supply our plant for well over 30 years. The current project cost is approximately $853 million.
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