NDPHC, BEDC sign agreement on delivery of 250MW stranded power
Lagos -- The Niger Delta Power Holding Company, NDPHC, has signed a framework agreement with the Benin Electricity Distribution Company, BEDC, to deliver additional 250megawatts, MW, from stranded power to customers within BEDC's franchise area.
Speaking at the signing ceremony in Lagos, the NDPHC Managing Director, Mr. Chiedu Ugbo, said the agreement took immediate effect.
Some of the initial project areas are Benin Bypass (industrial cluster near NDPHC's power plant at Ihovbor, Benin-City, Edo State; Asaba, Delta State, Ondo South Senatorial District, Ondo State and interventions in Ekiti State.
He recalled that 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.
According to him, "today, we are glad that we gather here for the purpose of signing a framework agreement for this collaboration."
"For NDPHC, the project will enable us to deliver more 250mw of power to customers of BEDC's franchise areas in Edo, Delta, Ondo, and neighbouring states.
"For BEDC, the project will help BEDC to satisfy its customers with reliable power and achieve an enhancement of its network and infrastructure".
He added that for BEDC's customers, their homes and industries can now enjoy 24 hours power supply.
Ugbo said for BEDC's investors and NDPHC shareholders - trustees of Nigerian people - this project will deliver significant value.
He noted that the NDPHC has been concerned about the "insufficient dispatch of its power generation capacity, as well as liquidity challenges which means that only a small proportion of the power dispatched gets paid for. Meanwhile, many consumers remain unserved or underserved".