Caleb-Inland Energy Nigeria Ltd (C-I) is a new Special Purpose Entity created specifically for the purpose of developing, constructing, owning and operating electric power generating plants in Nigeria. The first project C-I is developing is the 1,500 MW 3x3 dual fueled (gas/oil) Lekki Energy Center (“LEC” or the “Project”) located in the Lekki Free Trade Zone (“LFTZ”).
C-I is comprised of two established energy development companies: Caleb Energy Inc., a California company the principals of which are Nigerian - Americans who are thoroughly familiar with the political and economic infrastructure of Nigeria, particularly, Lagos, and who have a wide range of experience in dealing with financing and infrastructure projects; and Inland Energy, Inc., a power plant development company based in California which has successfully developed more than 3.0 GW of power plants with various technologies throughout the U.S. but primarily in California, including the award winning 830 MW, 3x1 natural gas fired combined cycle “High Desert Power Plant” (winner of the 2003 Power magazine “Power Plant of the Year”).
A key member of the C-I Team is Whitehall and Company (Whitehall) which has been selected as the Project’s Financial Advisor. Whitehall is an Investment Banking firm based in New York City which has extensive experience in the international power plant financing market.
The C-I Team also includes Marubeni, the most experienced Power Plant EPC currently operating in Nigeria.
C-I has also executed an exclusive MOU with General Electric to be the Project’s major equipment supplier.