The Chinese government and China EXIM Bank have reiterated the need for the Federal Government of Nigeria to settle its legal dispute with Sunrise Power Transmission.
It is reported that the Chinese financiers of the $5.8 billion Mambilla Hydropower project expressed concern to the Nigerian government that being privy to an earlier settlement reached between the government and Sunrise Power Transmission in 2020 and witnessed by the EPC contractors, they are optimistic that the current arbitration with Sunrise Power Transmission will be resolved soon.
While commending President Bola Tinubu’s drive as a reformer, the Chinese government reaffirmed its commitment towards the Mambilla hydro power project.
“Power generation by renewable energy continues to dominate the 21st Century development narrative across the world,” a government official said.
The Mambilla Hydro would create over 50,000 skilled and unskilled jobs, economic spillovers and 3,050MGWs of electricity.
Located in Kakara, in Taraba State, when completed, the Mambilla Hydroelectric power station will be the largest power generating installation in Nigeria, and one of the largest hydroelectric power stations in Africa.