Siemens Nigeria Hosts Customers To Create Partnerships for IPPs

Siemens has hosted its inaugural Forum for Power and Gas Customers in Nigeria to aid its long term focus on Public-Private Partnerships for the development of Independent Power Plants (IPPs) and provision of its associated services for such development to customers.

The event – which will hold annually – was well attended by a cross-section of key stakeholders, decision makers and partners to Siemens in the Power and Gas sector.

The Managing Director /Chief Executive Officer, Siemens Nigeria, Mrs. Tifase, in her welcome address, stated:

“Siemens has successfully delivered solutions for power generation, transmission and distribution for over 160 years across more than 190 countries. Our main objective here today is to determine how these solutions can be adapted to our peculiar situation here in Nigeria. Given our 45 year history in Nigeria, most of you here know us well already. We will however use this opportunity to reintroduce and highlight core aspects of our portfolio that distinguish Siemens with regards to our capability to provide efficient and competitive solutions through leading edge electrification, project financing and service capabilities and technology.”

The CEO, Azura Power West Africa Ltd, Dr David Ladipo, gave an overview on the ground-breaking Azura-Edo Independent Power Project (IPP) and Siemens’ roles as both a long-term Engineering Procurement and Construction (EPC) partner and financial contributor through the Siemens Financial Solutions (SFS) division. The Azura project is a 459MW open cycle gas turbine power station being developed near Benin City in Edo State and represents the first phase of a 1,500MW power plant facility targeted to come on stream in 2018.

Dr. Ladipo, spoke on the journey so far; commending Siemens’ patience, innovation, appetite for risk and long-term focus. There was also additional commentary from Standard Chartered Bank – the project’s Global Mandated Lead Arranger – on the uniqueness of the financial transaction.

Siemens is one of the world’s largest producers of energy-efficient, resource-saving technologies. In fiscal 2015, which ended on September 30, 2015, Siemens generated revenue of €75.6 billion and net income of €7.4 billion.