Fenchurch and NDPHC Ink 150MW Offtake Deal to Enhance Power Supply in Edo, Delta, Ondo
Fenchurch Power, an energy-focused company based in Nigeria, has announced the signing of a significant 150 MW offtake framework agreement with key entities in the Nigerian energy sector. The agreement involves collaboration with the Niger Delta Power Holding Company (NDPHC), the Benin Electricity Distribution Company (BEDC), and Faiza Utilities Ltd.
This landmark deal is expected to contribute to the enhancement of power supply and distribution infrastructure in the states of Ondo, Edo, and Delta, representing a major advancement in Nigeria’s energy sector.
The agreement was officially signed at the NDPHC head office in Abuja, with key representatives including Mr. Olufemi Bakare, the Executive Vice Chairman of Faiza Utilities Limited; Mr. Chiedu Ugbo, the Managing Director/Chief Executive of NDPHC; and Mr. Deolu Ijose, the CEO of BEDC.
The collaboration aims to reinforce the last-mile distribution network, facilitating the efficient supply of power generated by NDPHC’s Ogorode Independent Power Project to BEDC’s customers. This initiative is poised to make a positive impact on the electricity distribution landscape in the specified regions.
“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 has set a target to enhance efficiency and increase power supply to the designated areas by the second quarter of 2024, according to the announcement. Mr. Olufemi Bakare, the Executive Vice Chairman of Faiza Utilities Limited, referred to the agreement as transformative. He emphasized that once operational, it will play a crucial role in delivering a significant improvement in power supply to the targeted regions.
“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.
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Fenchurch Power, a subsidiary of the Fenchurch Group, highlighted its role as a driving force in the diversification of Nigeria’s power sector. The company has a track record of successful projects, including the construction of power distribution networks and the development of Independent Power Plants (IPPs). This underscores Fenchurch Power’s commitment and contribution to the expansion and improvement of Nigeria’s power infrastructure.
“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.
