Bresson, IBEDC sign N180bn PPA for Magboro Power

 Bresson A S and Ibadan Electricity Distribution Company (IBEDC) have signed a N180 billion Power Purchase Agreement (PPA) for a 30-megawatt power plant to serve customers in Magboro and Mowe communities in Ogun.

Mr Gbenga Hashim, Chairman of Bresson Nigeria Ltd., at the event on Monday, expressed excitement about the project, highlighting its potential to improve power supply in the communities.

“This agreement marks a major milestone in our efforts to improve electricity availability for residents.

“The initiative aims to provide 24-hour uninterrupted electricity to local customers within the next 11 months at competitive rates.

“The Magboro Power Plant is designed for a total capacity of 90 megawatts with plans to incorporate advanced technology,” he said.

Hashim added that the plant was expected to receive its first shipment of Titan 170 Solar Turbines by April 2025, further increasing its generation capacity.

Hashim assured stakeholders that the project would resolve the persistent power supply issues in Magboro and its environs.

Mr Francis Agoha, Acting Managing Director of IBEDC, emphasised the significance of the project in addressing Nigeria’s energy needs.

He noted that it aligns with the Federal Government’s target of achieving 6,000 MW by 2024.

According to him, the project is crucial for providing reliable and affordable power to the Magboro and its environs.

The Ogun State Governor, Dapo Abiodun, represented by his Special Adviser, Mr Jide Onakoya, commended the collaboration for its potential to boost economic growth in the communities.

He reiterated the government’s support for energy initiatives, stating that the partnership between Bresson and IBEDC would provide a lasting solution to the areas’ power challenges.

The event was attended by prominent figures, including Mr Austin Avuru, former Managing Director of Seplat Petroleum, Oba Adio Ademuyiwa, the traditional ruler of Magboro, among other dignitaries.