To boost the available electricity supply in the country, the Nigerian Bulk Electricity Trading Plc (NBET) said it is currently mobilising industry effort to supply additional 40MW of electricity for distribution to consumers through the narional grid.
The bulk trader disclosed on Tuesday at a consultative forum with industry stakeholders on Tuesday in Abuja.
The Spokesperson of the agency, Henrietta Ighomrore, who disclosed in a statement said siscussions were already ongoing with private investor to achieve this.
She said consultative meeting was attended by representatives of the distribution companies (DISCOs) across the country, and the sector regulator, the Nigerian Electricity Regulatory Commission (NERC), as well as the Transmission Company of Nigeria (TCN).
The meeting, the NBET spokesperson said, was a prelude to the finalization of its Power Purchase Agreement (PPA) with Mabon Hydro Power Plant for 40MW.
“It is part of the series of actions that the Bulk Trader will undertake prior to closing out the PPA with Mabon Hydro Power Plant,” she announced.
“This is timely and coming at a time when the country is in need of every available power it can generate and wheel out to the end users.
“The 40MW electricity from Mabon Hydro Power Plant will contribute immensely to strengthening and balancing the National Grid, as the power plant is the only generating plant located in the North East Region of the Country.”
Mabon Hydro Power Plant is strategically located in Dadin Kowa area of Gombe State.
Ighomrore said the initiative by Mabon was also a testament to the Federal Government’s drive to commercialize small hydro plants and bring them upstream to ramp up power generation across the Country.
Also, she said the project was in line with Nigeria’s commitment to the UN COP 26 on accelerated action and support for Climate Change Framework.
The hydro plant, she noted, as a clean energy source would propel Nigeria towards fulfilling its obligations.
As part of that obligarion, the President Muhammadu Buhari’s administration, the NBET spokesperson said, was committed to reducing carbon footprints on the environment and supporting climate change initiatives.
This additional power from Mabon, she said, would also contribute further towards reducing the current weighted average cost of power (WACP) within NBET’s portfolio, as hydro power is considered relatively cheaper cost of power generation.
During the meeting, the representatives of the DISCOS made significant contributions to the discussions, particularly giving commitments to working collaboratively with other market participants towards improving the Nigerian Electricity Supply Industry (NESI) and enhancing power supply to Nigerians.