Mr. Chris Bale, a top official of leading Nigerian conglomerate Honeywell Group, disclosed the group signed a Memorandum-of-Understanding (MoU) with General Electric (GE) for the construction of a power generation facility.
Under the Independent Power Project, a programme established by the Nigerian government to boost its power supply, the Nigerian Electricity Regulatory Commission (NERC) gave Hudson Power Limited, a subsidiary of the Honeywell Group, license to generate electricity.
“Honeywell’s strategic intention is to develop and construct 1000MW capacity power generation plant by the end of 2018. And to this end, Honeywell has signed an MoU with GE for the first phase of the project, which will generate 150MW,” Bale explained.
According to Business Day, he added that the project was at an advanced stage of development with the target of commercial operations, scheduled for early 2015.
Apart from the power generation licence, Honeywell also secured offer of gas supply, power transmission and evacuation approval for the first phase of the 150MW power project, located in Ogun State, a southern region of the country.
Honeywell Group is an indigenous conglomerate established in the 1970s. It is a diversified group with business interests in key sectors of the Nigerian economy, including foods and agro-allied, energy (oil, gas and power), infrastructure, real estate and services.