Independent Assessment Report (Due Diligence)on Egbin Power Plant

The Egbin Power Plant with an installed capacity of 1320MW is the biggest power plant in Sub-Sahara Africa and has been the main stay of power generation in Nigeria supplying on average 40% of the countries power generation capacity.


APTEC was contracted by a syndicateof domestic and international banks reviewing a financial proposal from a company bidding to acquire one of the successor generation companies of the Power Holding Company of Nigeria (PHCN).

The syndicate required the services of an engineering firm to undertake an independent assessment of the power plant to complete the banks Due Diligence requirements.

APTEC - Service

APTEC was contracted to conduct a technical and commercial audit of the power plant and facilities.

The following were the services rendered:

  • Gas Supply Study
  • Desktop Review of Technical Inspection Reports
  • Review of Power Plant Operational Data
  • Review of Maintenance Contracts
  • Review of Labour Relations and Human Resources
  • Review of Operating Costs
  • Assessments of Power Purchase Agreements
  • Assessment of Fuel Purchase Agreements
  • Review of Operating & Maintenance Contract requirements

AES Barge Mounted Gas Turbines located at Egbin Power Plant, Nigeria

Key Data
ClientZenith Capital
Execution Period2007
July 2007Submit proposal for Due Diligence
August 2007Undertake Desktop Review and Data Collection
Project Data
LocationEgbin, Lagos State
Gas Turbines6 x 220MW Duel Fuel Hitachi Steam Turbines
FuelNatural Gas and High Pour Fuel Oil (HPFO)
Control SystemATS
Site Avg. Temperature31.5C
Site Avg. Humidity75%
Site Pressure1.012 bar