The Abuja Electricity Distribution Company (AEDC) and Transafam Power have signed an agreement to deliver 50 Mega Watts (50MW) embedded power generation to Idu commercial hub in Abuja.
The Memorandum of Understanding (MoU) was signed by AEDC’s acting managing director/chief executive officer, Engr. Chijioke Okwuokenye and Managing Director of Transafam Power Limited, Engr. Vincent Ozoude, for the two companies.
Nigerian Tribune reports that the signing ceremony took place on the sideline of the just concluded 2-day summit on “Accelerated Scale-up of Renewable and Distributed Energy Solutions in Nigeria” organised by the Nigerian Electricity Regulatory Commission (NERC) in Abuja.
The signing, which is coming three days after AEDC made key leadership changes with the appointment of Engr. Chijioke Okwuokenye is the Company’s new Acting Managing Director and Chief Executive Officer and Engr. Olumide Jerome as the Chief Operating Officer, shows a dynamic approach to governance and strategic planning within the energy company.
Okwuokenye’s appointment, according to AEDC, is expected to drive the repositioning of the company as the foremost customer-focused electricity distribution firm in the Nigerian power sector.
In May 2023, Transcorp Group became the core investor in AEDC following its 60 per cent acquisition of the company’s shares, and in 2020, the consortium acquired the 966MW gas-fired Afam Power Plant and Afam III Fast Power Ltd, located in Rivers State, thereby increasing its installation capacity to approximately 2,000MW after its acquisition of 972MW gas-fired Ughelli Power Plant in 2013 which accounts for 15.5 per cent of its total installed capacity in Nigeria.
AEDC stated that with the strategic acquisition by the Transcorp Group, it has intensified efforts to upgrade its substations, expand distribution networks, and integrate of cutting-edge technologies to enhance power supply reliability and operational efficiency.
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