Global energy giant, General Electric, has lent support to Bresson AS’ plans to provide 500megawatts of electricity to the national grid by next year.
The managing director of Gaspower Systems, Mohammed Mijindadi who disclosed this over the weekend at Bresson AS’ working visit to the Vice-President, Yemi Osinbajo, added that the project has become a priority.
“The project has tremendous economic value, and that is why GE Capital is involved in structuring finances for Bresson 500mw project”, Mijindadi stated.
Bresson Nigeria Limited chairman, Gbenga Olawepo-Hashim had earlier assured the vice president that the megawatts to be generated would come from Bresson Flexible Power Initiative and its Magboro power plant in Ogun State.
He said the capacity, which will be available in phase one, from second quarter of 2017, would represent 10 per cent of the current available national capacity.
Olawepo-Hashim praised 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’s efforts to provide adequate power supply to the citizenry.