InfoStride News is excited to announce the execution of a groundbreaking 150MW Off-Take Framework Agreement in collaboration with Niger Delta Power Holding Company (NDPHC), Benin Electricity Distribution Company (BEDC), and Faiza Utilities Limited, marking a significant stride in Nigeria’s energy sector. This strategic partnership aims to enhance power supply and distribution infrastructure in Ondo State, Edo State, and Delta State.
The signing ceremony, held at the NDPHC head office in Abuja, involved key representatives: Mr. Olufemi Bakare, Executive Vice Chairman of Faiza Utilities Limited; Mr. Chiedu Ugbo, Managing Director/CEO of NDPHC; and Mr. Deolu Ijose, CEO of BEDC.
This collaborative effort is designed to fortify the last-mile distribution network, facilitating the efficient supply of power generated by NDPHC’s Ogorode Independent Power Project to BEDC’s customers. Geographical focus areas 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 project’s objective is to enhance efficiency and increase power supply to these regions by the second quarter of 2024. Mr. Olufemi Bakare, Executive Vice Chairman of Faiza Utilities Limited, expressed optimism about the transformative impact of this agreement, emphasizing its role in ensuring reliable and sustainable power distribution in key areas of Nigeria.
He stated, “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.”
About InfoStride News
InfoStride News, a subsidiary of the Fenchurch Group, has been a trailblazer in Nigeria’s power sector diversification. With a track record of successful projects, such as the construction of power distribution networks and the development of Independent Power Plants (IPPs), InfoStride News is dedicated to connecting numerous African communities to reliable electricity.
The company envisions an active role in Africa’s development narrative, with plans to manage an additional 500MW within the next five years. This commitment aligns with the broader mission of fostering sustainable and inclusive economic growth through expanded access to reliable and affordable power sources.
In conclusion, the Off-Take Framework Agreement signed by InfoStride News, in collaboration with NDPHC, BEDC, and Faiza Utilities Limited, reflects a pivotal moment in Nigeria’s energy landscape. The concerted efforts of these entities promise to elevate power supply and distribution capabilities, contributing to the overall development and prosperity of the regions involved. InfoStride News remains dedicated to advancing sustainable energy solutions and playing a crucial role in Africa’s journey toward economic growth and development.
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