The Federal Government has transferred the operations of the Zungeru Hydroelectric Power Plant to Penstock Limited, aiming to enhance Nigeria’s power generation capacity and address its growing energy demands.
The Concession Agreement was signed in December 2023, and Penstock Limited fulfilled its obligations by paying 50% of the commencement fees in January 2024.
The 740MW Zungeru power facility, located in Niger State, is Nigeria’s largest hydropower project, expected to generate 2.64bn kWh of electricity annually, meeting approximately 10% of the country’s domestic energy needs.
Besides power generation, the project will provide flood protection, water for irrigation, and employment opportunities for over 2,000 people during peak construction.
