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From David Onwuchekwa, Nnewi
FirstPower Electricity Distribution Company Limited has announced plans to invest ₦53.3 billion in electricity distribution infrastructure in Anambra State between 2027 and 2029, as part of efforts to improve power supply and support the state’s industrial and economic development.
The investment commitment comprises ₦13.3 billion earmarked for priority network investments in 2027 and an additional ₦40 billion planned for 2028 and 2029.
The Chairman of FirstPower, Chief Sir Emeka Offor, disclosed this at the Anambra State Investment Forum, where he outlined the company’s investment strategy, partnerships with electricity generation companies and ambition to achieve 24-hour electricity supply in most major towns across the state by 2029.
He said the proposed investments would strengthen electricity distribution infrastructure, improve metering, expand network capacity and enhance the reliability of electricity supply.
Offor also disclosed that FirstPower was concluding arrangements with generating and renewable energy companies to secure approximately 205 megawatts of additional electricity capacity, while exploring over 420 megawatts of potential embedded distributed generation and interconnected mini-grid opportunities.
According to him, the company was concluding Power Purchase Agreement (PPA) discussions to procure 55 megawatts within the next few days.
He further revealed that FirstPower and Greenewable Energy Limited had signed a Memorandum of Understanding (MoU) to develop 100 megawatts of embedded generation.
The company was also scheduled to sign MoUs with Capstone Energies Limited for 50 megawatts of distributed embedded power supply and North South Power Company Limited for 17 megawatts.
Offor said the company’s investment commitments were anchored on three pillars: building a strong, inclusive and commercially sustainable electricity market; mobilising investments in power infrastructure; and delivering measurable improvements in electricity reliability and customer service.
He called for greater collaboration among the state government, electricity regulators, existing operators and prospective investors, stressing the need for transparent regulation, protection of investments, respect for contractual obligations and commercially sustainable partnerships.
