Mainstream Energy Solutions Ltd. has approved feasibility studies for the reconstruction of Nigeria’s 750-MW Kainji and 578-MW Jebba hydropower projects, JSC RusHydro subsidiary RusHydro International AG announced.
The reports, completed by the Russian energy conglomerate in April, were approved by Mainstream Energy’s board of directors earlier today.
The partners signed a five-year cooperation agreement regarding the rehabilitation and modernization of the Kainji and Jebba plants in May 2013, with RusHydro International AG to provide engineering services. RusHydro (LSE: HYDR) is also responsible for the development of project documentation; organization of tenders for equipment supply, installation and construction works; and consulting on operation and maintenance of the plants.
The hydropower plants are both located on the Niger River and are operating at levels “substantially below their installed capacity,” RusHydro said.
HydroWorld.com reported then that Mainstream Energy had committed to spend US$452 million for the project and would pay RusHydro a fixed fee for rendered services and additional remuneration for organization of tenders. RusHydro will not provide any financing for the work.
For more news from Africa, visit here.