Rozvodòa Varín

*Osinbajo: FG to clear obstacles to power sector investments

By James Emejo in Abuja

Global Energy giant, General Electric said it would provide support for Bresson AS’ plans to provide 500megawatts of electricity to the national grid by next year.

The Managing Director of Gaspower Systems, Mr. Mohammed Mijindadi disclosed this over the weekend at a Bresson AS working visit to the Vice-President, Mr. Yemi Osinbajo, adding that financing the project had become a priority.

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

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

According to him, the capacity, which will be available in phase 1 from second quarter of 2017, would represent 10 percent of the current available national capacity.

Olawepo, however, commended the present administration for removing bottlenecks associated with signing of power purchase agreements, noting that the Minister of Power had approved the agreements without delay and without waiting to be lobbied.

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.

Meanwhile, Osinbajo had told the team of investors that the present 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.

Assuring that the administration was working to ensure regular supply of gas to the power plants as well as making efforts to attract investment into the sector, he said Bresson integrated model in power generation was a laudable model.

Osinbajo said: “We shall support you and other genuine investors with recognisable foot print but we shall monitor you closely to ensure you adhere to your schedule.”

The High Commissioner of Slovakia, Mr. Peter Holasek, the country where Bresson technical partners emerged from further assured the Vice president of the readiness of his country to support the Nigerian power sector.

He described Slovakia as a small nation but with huge technical capacity, noting that Nigeria could tap into its expertise to address her technological needs.