Mambila Power Project: Sunrise Floors FG as ICC Proceeds with Arbitration

•As international court says no reasons to stop arbitration The International Court of Arbitration administered by the International Chamber of Commerce (ICC), Paris, France has affirmed the legal and beneficial ownership of Sunrise Power and Transmission Company Limited (SPTCL) in the $5.8 billion Mambilla hydro-electric power project. Sunrise and its Chairman/Chief Executive Officer, Leno Adesanya…

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Hope For Mambilla Project As Sunrise Power Waives $500m Penalty For Nigeria

Sunrise Power Transmission Company of Nigeria Ltd (SPTCL) has agreed to waive the $500 million penalty fee incurred by the federal government over multiple defaults of a $200 million settlement agreement on the Mambilla hydroelectric power project in Taraba state. There has been a legal tussle stalling the execution of the $5.8 billion project. Sunrise…

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