AEDC, Transafam Power Partner to Deliver 50MW to Abuja Commercial Hub
The Abuja Electricity Distribution Company (AEDC) and the Transafam Power have signed a Memorandum of Understanding to deliver 50 Mega Watts (MW) of embedded power to Idu commercial hub in Abuja.
The MoU was signed for the companies by Mr Chijioke Okwuokenye, the Acting Managing Director of AEDC and Mr Vincent Ozoude, the Managing Director of Transafam Power Ltd, in Abuja on Wednesday.
Okwuokenye said that the MoU was in fulfillment of of the Nigerian Electricity Regulatory Commission (NERC)’s requirement for AEDC to provide 82 per cent of embedded power generation, ensuring reliable and consistent power supply to the Idu Cluster.
According to him, the deal marks a further demonstration ofAEDC’s transformation agenda of entering power generation and reducing reliance on the grid.
”The Investment is a further evidence of the turnaround strategy following Transcorp’s acquisition of 60 per cent of AEDC.
”This wil significantly advance AEDC’s mission in providing stable and dependable electricity in the Federal Capital Territory (FCT).
”The partnership demonstrates the strategy of Transafam, a leading power generator and subsidiary of Nigeria’s largest, listed conglomerate and Transcorp Group, to further expand its power portfolio, to provide on-grid and embedded generation,” he said.
The MoU is in fulfillment of of the Nigerian Electricity Regulatory Commission (NERC)’s requirement for AEDC to provide 82 per cent of embedded power generation, ensuring reliable and consistent power supply to the Idu Cluster.
According to him, the deal marks a further demonstration of AEDC’s transformation agenda of entering power generation sector and reducing reliance on the grid.
”The Investment is a further evidence of the turnaround strategy following Transcorp’s acquisition of 60 per cent of AEDC,” he said. The development is coming three days after AEDC made key leadership changes with the appointment of Okwuokenye as the company’s new acting managing director.
According to AEDC, Okwuokenye’s appointment is expected to drive the repositioning of the company as the foremost customer-focused electricity distribution firm in the country power sector. Money Market Rates Crash as FAAC Credit Boosts Liquidity
