Ibom Power Company Limited (IPC) is one of the first independent power plants in Nigeria. The company was registered and incorporated with the Corporate Affairs Commission (CAC) in January 2001 by Akwa Ibom Investment and Industrial Promotion Council “AKIIPOC” now Akwa Ibom Investment Corporation (AKICORP).
The plant site is located at Ikot Abasi Local Government Area (LGA) while the company has its corporate office in Uyo, the Akwa Ibom State capital with a liaison office at FCT Abuja.
In May 2008, the company received a 191MW license from the Nigerian Electricity Regulatory Commission (NERC) to generate electricity. In November 2015, NERC amended the license to increase Ibom power’s generating capacity from 191Megawatts to 685Megawatts. Several Investors have indicated interest to develop the 500MW Phase 2 of Ibom power plant.
Ibom power receives gas from Accugas, a subsidiary of Seven Energy, based on a 10-year Gas Sales and Purchase Agreement (GSPA) through a Gas Processing Facility (GPF) at Uquo in Esit Eket LGA and a Gas Receiving Facility (GRF) in Ikot Abasi.
Ibom power output is evacuated to the national grid through a 49km 132kV transmission line from Ikot Abasi to Eket 132/33kV double circuit substation. Nigerian Bulk Electricity Trading Company Plc. (NBET) is the off-taker of the electricity produced by Ibom Power Company Limited like other power generating companies (Gencos).
The highest decision making body at Ibom Power Company Limited is the Board of Directors which consist of Engr. Etido Inyang as the Chairman with Directors; Barr. Uwem Ekanem, Hon. Ayang Ayang, Elder Ntieyong Inyangmme, Hon. Emmanuel Ebe and Engr. Meyen Etukudo as the Managing Director/CEO.
Ibom power recently presented a paper at the GE Frame 9 Users’ conference in Dubai. General Electric (GE) organized the conference for Users of Frame 9 model of their Gas Turbine. The conference was attended by more than 100 key customers in the Middle East and Africa.