The Federal Government has opened talks with the African Development Bank for the financing of coal-to-power projects across the country, The Punch reports.

It was learnt that the funding arrangement, which the Ministry of Mines and Steel Development is midwifing, would be available to operators who were ready to set up coal power plants with capacity of at least 500 Megawatts.

The Special Assistant to the Minister of Mines and Steel Development on Media, Mr. Yinka Oyebode, confirmed the talks. It was however not clear as of press time how much assistance the Federal Government was seeking from the bank for the coal-to-power financing.