The Abuja Electricity Distribution Company (AEDC) signed a Memorandum of Understanding (MOU) with Transafam Power yesterday, to implement a groundbreaking 50MW embedded power generation project for the Idu Commercial Hub in Abuja.
The MOU was executed by AEDC MD/CEO, Chijioke Okwuokenye, and MD/CEO, Transafam Power Limited, Vincent Ozoude, during the Summit on Accelerated Scale-Up of Renewable and Distributed Energy Resources in Nigeria, hosted by the Nigerian Electricity Regulatory Commission.
AEDC will fulfil 82 per cent of the Nigerian Electricity Regulatory Commission’s requirement for embedded power generation, ensuring reliable and consistent power supply to the Idu Cluster.
The deal marks a further demonstration of AEDCs transformation agenda, entering the power generation sector and reducing reliance on the local grid.
The investment, further evidence of the turnaround strategy following Transcorp’s acquisition of 60 per cent of AEDC, will significantly advance AEDC’s mission in providing stable and dependable electricity in the Federal Capital.
The partnership demonstrates the strategy of Transafam, a leading power generator and subsidiary of Nigeria’s largest, listed conglomerate, Transcorp Group, to further expand its power portfolio, to provide on-grid and embedded generation.The deal further evidence of Tony Eumelu led Transcorp championing its integrated energy strategy, bringing Nigeria’s natural resources and power infrastructure together to catalyse growth.
The AEDC/Transcorp partnership isa significant advancement towards delivering reliable and sustainable power to Nigerians, enhancing the overall power landscape in Nigeria, and fostering growth and economic prosperity for all—a demonstration of Africapitalism, Elumeu’s philosophy of the private sector driving social good.
AEDC said it is committed to delivering dependable electricity to millions across the nation’s key commercial centres Federal Capital Territory (Abuja), Kogi, Niger, and Nasarawa states.
In May 2023, a Transcorp-led consortium became the core investor in AEDC, following its 60 per cent acquisition of the company’s shares. Since this strategic acquisition, the company has intensified efforts to upgrade substations, expand distribution networks, and integrate cutting edge technologies to enhance power supply reliability and operational efficiency. AEDC prioritises customer experience and consistently strives to create value for all stakeholders while contributing to the socio-economic development of the regions it serves.
Transafam Power Limited is one of the power subsidiaries of Transcorp Group and the core investor in Afam Genco, comprising Afam Power Pc and Afam Three Fast Power Limited. The Afam GenCo Power Plant is located at Okoloma Village, in Oyigbo LGA of Rivers State with a total installed capacity of 966 MW. Trans Afam has the biggest mobile power generating equipment in Nigeria and West Africa (Power Plant on trailer mounted wheel).
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