The Nigerian Bulk Electricity Trading Plc. (NBET) is consulting with industry stakeholders to secure additional 40MW of grid distributed electricity for Nigeria.
NBET disclosed this shortly after a consultative forum on Tuesday 12th April 2022 with representatives of distribution companies (DISCOs) across the country, and the Sector Regulator (NERC), as well as the Transmission Company of Nigeria (TCN).
The Head, Corporate Communications, NBET, Henrietta Ighomrore in a statement said, the meeting was a pre-cursor towards 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.
NBET said, the meetimg was timely and coming at a time when the country was in need of every available power it could generate and wheel out to the end users.
It said, the 40MW electricity from Mabon Hydro Power Plant would contribute immensely to strengthening and balancing the National Grid, as the power plant was 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.
“This is also a testament to the Federal Government’s (FGN) drive to commercialize small hydro plants and bring them upstream to ramp up power generation across the Country.
“It is also in line with Nigeria’s commitment to the UN COP 26 on accelerate action and support for Climate Change Framework, the Hydro Plant being a clean energy source propels Nigeria towards fulfilling its obligations.
“The President Muhammadu Buhari’s administration is committed to reducing carbon foot prints and supporting climate change initiatives. This additional power from Mabon will also contribute further towards reducing the current weighted average cost of power (WACP) within the NBET’s portfolio, as hydro power is relatively cheaper cost of power generation.
“The DisCos made significant contributions at the meeting, with a commitment to working collaboratively with other market participants towards improving the Nigerian Electricity Supply Industry (NESI) and enhancing power supply to Nigerians”, the statement said.