Bresson launches N180 billion Magboro Power Plant, signs power purchase agreement with IBEDC
The first phase of the Magboro Power Plant officially commenced on Monday, October 28, 2024, marked by the signing and unveiling of a 30 MW power purchase agreement between Bresson AS, Magboro Power Company, and Ibadan Distribution Company (IBEDC).
Within 11 months, premium customers in the Magboro and Mowe areas are expected to enjoy 24-hour uninterrupted electricity, thanks to this collaboration between Bresson and IBEDC, at rates lower than the current Band A tariffs.
A statement issued by the company’s Senior Media and Communications Adviser, Oluwasegun Abifarin, confirmed that the Magboro plant, with a design capacity of 90 MW, is set to receive its first shipment of Titan 130 Solar Turbines by April 2025.
Engr. Francis Agoha, Acting Managing Director of IBEDC, remarked that this partnership is in line with the company’s strategic commitment to enhancing energy availability for its customers.
He said: “This agreement marks a significant milestone in our continuous efforts to ensure consistent and affordable power for the Magboro community and beyond. Related News
“We are committed to forging partnerships that foster progress and deliver lasting solutions to the power challenges faced by communities within our network.”
In his remarks, Dr. Gbenga Hashim, Chairman and CEO of Bresson AS, expressed gratitude, noting that the journey to establish the Magboro Power Plant, which began nearly two decades ago, is finally coming to fruition.
Magboro Power Company Limited, a reputable independent power developer, is set to play a pivotal role in this project.
Notable attendees at the event included Mr. Austin Avuru, founding Managing Director of Seplat Petroleum; His Royal Highness Oba Adio Ademuyiwa, Traditional Ruler of Magboro; Ogun State Governor’s Special Adviser on Energy, Jide Onakoya; banker Mr. Moli Mitchelli; Bresson Director Mr. Vincent Gueneau; Stock Brothers, and other industry leaders.
The event also saw the presence of Bresson and IBEDC staff and management.
