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”.
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 license to generate electricity from the Nigerian Electricity Regulatory Commission (NERC).
The plant has an installed capacity of 191MW for the first Phase with an expanded license to increase the installed capacity by 500MW for the second Phase.
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 substation.
The Nigerian Bulk Electricity Trading Company Plc. (NBET) is the off-taker of the electricity produced by Ibom Power Company Limited. Ibom Power is a registered participant in the Nigerian Electricity Supply Industry (NESI).
On the 21st of October, 2016, Accugas started a critical system upgrade and maintenance of their gas receiving facility which disrupted gas supply to Ibom power plant. The gas supply was restored after 114 days on the 12th of February, 2017.