Fenchurch Power, an energy-focused firm headquartered in Nigeria, has announced the signing of a landmark 150mw offtake framework agreement with the Niger Delta Power Holding Company (NDPHC), the Benin Electricity Distribution Company (BEDC), and Faiza Utilities Ltd.
The deal is expected to boost power supply and distribution infrastructure in Ondo, Edo and Delta states, marking a significant milestone in Nigeria’s energy sector.
The agreement was signed at the NDPHC head office in Abuja by the Executive Vice Chairman of Faiza Utilities Limited, Mr. Olufemi Bakare; Managing Director/Chief Executive of NDPHC, Mr. Chiedu Ugbo and CEO of BEDC, Mr. Deolu Ijose.
The collaboration, a statement from the group said, will strengthen the last-mile distribution network, enabling the efficient supply of power generated by NDPHC’s Ogorode Independent Power Project to BEDC’s customers.
“Fenchurch Power is proud to announce the signing of a landmark 150MW Off-Take Framework Agreement with Niger Delta Power Holding Company (NDPHC), Benin Electricity Distribution Company (BEDC), and Faiza Utilities Limited.
“This strategic partnership is set to enhance power supply and distribution infrastructure in Ondo State, Edo State, and Delta State, marking a significant milestone in Nigeria’s energy sector.
“Initial geographical areas of focus under the agreement include Ilaje, Okitipupa, Igbokoda, and Irele local governments in Ondo State, as well as the Chinese Industrial Cluster, Benin bypass, and the Useluku-Umunede axis around Asaba,” the firm stated.
The project also aims to achieve increased efficiency and power supply to the areas by the second quarter of 2024, it added.
Executive Vice Chairman of Faiza Utilities Limited, Bakare, in his remarks, described the agreement as transformative, stressing that when operational, it will help deliver massive improvement in power supply.
“This agreement represents a transformative step towards ensuring reliable and sustainable power distribution in key regions of Nigeria. By leveraging the strengths of our collective expertise, we are poised to deliver significant improvements in energy access and economic development,” he said.
Fenchurch Power, a subsidiary of the Fenchurch Group, said it has been a driving force in Nigeria’s power sector diversification, with a history of successful projects, including the construction of power distribution networks and the development of Independent Power Plants (IPPs).
“The company’s vision is to play an active role in the development narrative of Africa, with plans to manage an additional 150mw within the next five years,” it stated.
