Renewable Energy

NPL Advisors have been instrumental in facilitating the signing of a Memorandum of Understanding between Anambra State Government of the Federal Republic of Nigeria and Carbon Afrika Limited an investment company for a 9.4 Billion Naira Waste to Energy project.

With a time line of 12 to 15 months, the waste treatment plant will be constructed on a 4 hectare piece of land at Ozubulu. It will generate green energy of 24 megawatts of electricity.

The investor is to provide 8.4 Billion Naira representing 90% of the equity while the state government will bring the remaining 10% totalling 9.4 Billion Naira.

The Governor of Anambra State said that the project provides solutions to the environmental and health challenges posed by congested dumpsites across the State. He hopes that effective waste management in line with global best practices will commence in the state and that the project will compliment his administration’s efforts at boosting power supply in the State .The Governor urged the investor to immediately hit the ground running to ensure that the project is realised on schedule.

The Chairman of ANSIPPA (Anambra State Investment and Promotions Agency) explained that the project will generate 250 direct and one thousand and five hundred indirect jobs.

The Managing Director and Chief Executive Officer of Carbon Afrika, the investment company Ms Chizoba Adigwe said that they have reliable financial partners for the project from the French and German Governments and that what they are bringing to Anambra State is a project that is realisable.

The Chairman of the State Power Committee Mr Chike Okonkwo explained that the project will generate power which will be off taken by industries in the Nnewi region.

In a vote of thanks, the Managing Director of the State Waste Management Agency ASWAMA Mr Phil Chiwuba promised they will work closely with the investor to facilitate the movement and management of waste when the project comes on stream.

The formal signing of the Memorandum of Understanding documents by the Governor Chief Willie Obiano and The Chief Executive Officer of Carbon Afrika Ms Chizoba Adigwe at Governor’s Lodge was the high point of the event.

NPL Advisors were central in assisting Carbon Afrika by being its Financial Advisor. More specifically in providing preliminary and detailed discussion / paper on the cross border structural diagrams of the Project including initial and on going flow of funds as well as cash flow analysis. A double spv structure was introduced through Mauritius and the relevant double taxation treaty on withholding taxes and other exempt taxes was furnished by NPL Advisors.