Sunrise Power and Transmission Company Limited promoter, Leno Adesanya, has said the legal battle over the long-delayed Mambilla Hydroelectric Power Project is not over, following the recent arbitration decision involving the Federal Government
Adesanya, in a statement on Friday, said his legal team is reviewing the decision of the International Arbitration Tribunal under the auspices of the International Chamber of Commerce (ICC) in Paris, France, and will determine the appropriate legal steps to take after a detailed assessment of the award
He said the tribunal’s decision was being carefully examined, adding that it would be premature to draw conclusions on the implications of the award before the company and its lawyers had completed their review
According to him, Sunrise remained committed to pursuing all lawful avenues available to it in relation to the Mambilla project and the agreements underlying the dispute
“The battle is not over Our lawyers are currently reviewing the arbitration decision and will advise us on the appropriate next steps.
“We respect the arbitration process and the decision of the tribunal, but we are carefully studying the award, including its findings, reasoning and the implications for the parties
“Until our legal team has completed its review, it would be premature to comment extensively on the decision or the issues arising from it
“Sunrise remains committed to protecting its rights and interests in relation to the Mambilla Hydroelectric Power Project We will consider all lawful options available to us based on the advice of our lawyers.
“We also remain hopeful that the long-running issues surrounding the project can ultimately be resolved in a manner that protects the interests of all parties and supports the realisation of the enormous potential of the Mambilla project for Nigeria’s power sector
“We will make further comments when our legal team has concluded its review and advised us on the appropriate course of action”