Monday, September 27, 2021

    NDPHC, BEDC sign agreement to deliver 250MW stranded power

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    Naija247news Editorial Team
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    By Solomon Asowata
    Lagos, April 22, 2021 The Niger Delta Power Holding Company (NDPHC) has signed an agreement with the Benin Electricity Distribution Company (BEDC) to deliver additional 250MW from stranded power to customers within the franchise area.
    A statement signed on Thursday by Mrs Olufunke Nwankwo, Head, Communication and Public Relations, NDPHC, said the agreement was signed on Wednesday in Lagos.
    Speaking at the ceremony, Mr Chiedu Ugbo, Managing Director, NDPHC, said the two companies had in 2020 commenced exploring options to collaborate to deliver safe and reliable power to customers of the BEDC’s franchise area.
    He said: “Some of the initial project areas are: Benin Bypass (industrial cluster near the NDPHC’s power plant at Ihovbor, Benin City, Edo State; Asaba, Delta State, Ondo South Senatorial District, Ondo State and interventions in Ekiti State.
    ”Today, we are glad that we gather here for the purpose of signing a framework agreement for this collaboration.
    “For the NDPHC, the project will enable us to deliver more 250MW of power to customers of the BEDC’s franchise areas in Edo, Delta, Ondo, and neighbouring states.”
    “For the BEDC, the project will help the company to satisfy its customers with reliable power and achieve an enhancement of its network and infrastructure,” Ugbo said.
    According to him, the BEDC’s customers, their homes and industries can now enjoy 24 hours power supply.
    Ugbo said the project would deliver significant value to investors and shareholders of both firms.
    Also, the Chief Executive Officer, BEDC, Mrs Funke Osibodu, said the company aims at delivering incremental power from the NDPHC under-utilised or stranded capacity.
    Osibodu said the power would be distributed to several industrial and commercial hubs through multiple solutions across the certain locations in Delta, Edo, Ondo and Ekiti for electricity value chain.
    She said under the agreement, BEDC and NDPHC would provide end-to-end power solutions across the value chain to deliver minimum of 250MW of additional power.
    Osibodu said the collaboration would see the BEDC partner the NDPHC and others to identify and priortise critical projects to increase power supply whilst improving on technical and commercial environment.

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