TheCable

The Nigerian Bulk Electricity Trading Plc (NBET) says it has signed a power purchase agreement (PPA) for an additional 40 megawatt to support the power supply.

In a statement on Tuesday, Henrietta Ighomrore, spokesperson of NBET, said the signing was done by stakeholders in the power sector with Mabon Hydro Power Plant.

The stakeholders in attendance were representatives of Distribution Companies (DISCOs), the Nigerian Electricity Regulatory Commission (NERC), as well as the Transmission Company of Nigeria (TCN).

NBET said the development is part of the series of actions that will be undertaken before closing out the PPA with the private organisations to ramp up the power supply nationwide.

“This is timely and coming at a time when the country needs every available power it can generate and wheel out to the end-users,” the company said.

“The 40 MW 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.

“It is also in line with Nigeria’s commitment to the UN COP 26 to accelerate action and support for Climate Change Framework, the hydro plant being a clean energy source propels Nigeria towards fulfilling its obligations.”

The statement added that the additional power from Mabon will also contribute further towards reducing the current Weighted Average Cost Of Power (WACP) within the NBET’s portfolio, as hydropower is a relatively cheaper cost of power generation.

NBET said that the Discos had made significant contributions, adding that it is committed to working collaboratively with other market participants towards improving the Nigerian Electricity Supply Industry (NESI) and enhancing the power supply to Nigerians.

TheCable had reported that the national grid witnessed collapsed three times in less than four weeks.