The first phase of Magboro Power Plant kicked off on Monday with the official signing and unveiling of the 30 megawatts (MW) Power purchase agreement between Bresson A S, Magboro Power Company and Ibadan Distribution Company.
With this agreement, the premium customers around Magboro, Mowe are expected within 11 months to benefit from 24 hours uninterrupted electricity supply as a result of collaboration between Bresson and Ibadan Electricity Distribution Company at a price below current band A charges, Magboro senior media/communication adviser, Oluwasegun Abifarin said in a statement.
The Magboro plant designed as a 90 MW plant is expected to receive its first shipment of Titan 130 Solar Turbine by the end of April 2025.
In his remarks, acting managing director of IBEDC, Engr. Francis Agoha, emphasised that this partnership aligns with the company’s strategic goal of improving customer energy availability.
“This agreement marks a significant milestone in our continuous efforts to ensure consistent and affordable power for the Magboro community and beyond,” he stated.
“We are committed to forging partnerships that foster progress and deliver lasting solutions to the power challenges faced by communities within our network.”
Also speaking, chairman and chief executive of Bresson, A S, Dr. Gbenga Hashim stated that he is grateful to God that the journey to build the Magboro Power plant which started about 20 years ago is coming to fruition.
Magboro Power Company Limited, an independent power developer will play a crucial role in this initiative.
Dignitaries present at the event included Austin Avuru, pioneer managing director of Seplat Petroleum; traditional ruler of Magboro, Oba Adio Ademuyiwa; the SA Energy to Ogun State governor; Jide Onakoya; bankers, Moli Mitchelli, director of Bresson, Vincent Gueneau, stockbrokers and other captains and industries.
The others included the staff and management of Bresson and IBEDC.
