Sunrise Power and Transmission Company Limited is reviewing a recent arbitration ruling in its long-running dispute with the Federal Government over the Mambilla Hydroelectric Power Project.
The company’s promoter, Leno Adesanya, disclosed this in a statement on Friday.
Adesanya said Sunrise’s legal team was examining the decision of the International Arbitration Tribunal operating under the International Chamber of Commerce in Paris, France.
He said the review would determine the company’s next course of action and assess the implications of the ruling for all parties.
“The battle is not over. Our lawyers are currently reviewing the arbitration decision and will advise us on the appropriate next steps,” Adesanya said.
He stressed that Sunrise respected the arbitration process and the tribunal’s decision.
However, he said the company needed time to study the tribunal’s findings, reasoning and the wider implications of the award.
“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,” he stated.
Adesanya said it would be premature for the company to make detailed comments before its lawyers complete their assessment.
“Until our legal team has completed its review, it would be premature to comment extensively on the decision or the issues arising from it,” he said.
The company has yet to decide whether to pursue further legal action or adopt another approach following the ruling.
Adesanya assured stakeholders that Sunrise would consider all lawful options based on the advice of its legal team.
He also reaffirmed the company’s commitment to protecting its rights and interests in the Mambilla project and related agreements.
The Mambilla Hydroelectric Power Project has been delayed for years amid the dispute between Sunrise Power and the Federal Government.
Adesanya expressed hope that the disagreement would eventually be resolved in a manner that protects all parties and helps unlock the project’s potential for Nigeria’s power sector.
He said Sunrise would provide further information after its lawyers complete their review and recommend the appropriate course of action.
For now, the company’s next move remains dependent on legal advice as the future of the long-delayed Mambilla project continues to be tied to the resolution of the dispute.
