General Electric (GE) has announced its intention to collaborate with the Niger Delta Power Holding Company (NDPHC) on the development of an end-to-end power intervention (EEIP), in efforts to help boost power supply in Nigeria.
This announcement followed a signing of a letter of intention by both parties during the France-Nigeria Business Forum in Lagos this week.
EEIP is aimed at delivering incremental power from the NIPP’s underutilised or stranded capacity to several industrial and commercial hubs through multiple solutions across the entire electricity value chain.
Under the agreement, GE will provide end-to-end power solutions across the value chain to deliver 2.5GW of power.
The company will also provide financing support for the power projects including funding for the refurbishment of distribution and transmission infrastructure amongst other critical support services to analyse and improve the power value chain.
The letter of intent also states the willingness of BPIFrance (the French export credit agency) to provide financing support given that the technology to be deployed in this project will be manufactured in GE power’s facilities in France.
The collaboration will see NDPHC partner with GE to work with discos, Transmission Company of Nigeria and other relevant stakeholders, to identify and prioritise critical projects to reduce technical and commercial losses.
The focus will be on the expansion, repair and upgrade of all critical transmission and distribution infrastructure. Read more: GE commissions hybrid distributed power unit for Ethiopian village
According to Lazarus Angbazo, CEO and President of GE Nigeria: “GE is proud to partner with an organisation of high repute like NDPHC. There is an alignment in our objectives to drive positive change in Nigeria’s power industry so this partnership is a good fit and we look forward to positive outcomes in the near future.”
Also speaking at the event, Chiedu Ugbo, MD and CEO of NDPHC said that the collaboration will bring about a much-needed boost to the Nigerian power sector.
GE and the federal government of Nigeria signed a country to company agreement in 2014 to achieve the country’s additional electric power generation capacity target of 10,000MW.