GE to support Bresson’s 500MW power project in Nigeria

Succour may be on the way for electricity consumers in the country, as the Global Energy giant, General Electric (GE), has thrown its weight behind Bresson’s plans to provide 500 Mega Watts (MW) of electricity to the national grid by 2017.

The Managing Director of Gas power Systems, Mohammed Mijindadi who disclosed this over the weekend during Bresson AS working visit to the Vice-President, Yemi Osinbajo, added that the project has become a priority.

Mijindadi said: “The project has tremendous economic value, and that is why GE Capital is involved in structuring finances for Bresson 500MW project”,

Bresson Nigeria Limited Chairman, Gbenga Olawepo-Hashim had earlier assured the Vice President that the energy to be generated would come from Bresson Flexible Power Initiative and its Magboro power plant in Ogun state.

He said the capacity, which would be available in phase one from second quarter of 2017, would represent 10 per cent of the current available national capacity.

Olawepo-Hashim applauded the administration for removing bottlenecks associated with signing of power purchase agreements, informing the vice president that the minister of power approved the agreements without delay and without waiting to be lobbied.

Describing the new style as commendable, Olawepo-Hashim noted that the new development will attract more investors and fast track the administration efforts to provide adequate power supply to the citizenry.

The Vice President told the team of investors that the administration was committed to removing all bottlenecks hindering investor’s in the power sector, commending Bresson for the integrated nature of its power projects developing a model of fuel sufficiency by also investing in gas production.

While assuring that the administration is working to ensure regular supply of gas to the power plants and attract investment into the sector, Osinbajo said Bresson integrated model in power generation is a good model.

“We shall support you and other genuine investors with recognizable foot print” he said.