By Michael Ovat -Awka
The Enugu Electricity Development Company (EEDC), has signed a Memorandum of Understanding (MoU), with investment partners; “Capstone Energies Limited for distributing embedded supply of 50 MW and North South Power Company Limited for distributed embedded supply of 17 MW in Anambra State.
It was gathered that the MoU signing ceremony that took place during the maiden edition of Anambra State Electricity Market Investment Round Table, organized by the Anambra State Electricity Regulatory Commission (ASERC), held at the International convention center in Awka on Thursday, November 12th, 2026 aimed to advance the power sector in Anambra, south east region and Nigeria as a whole.
The agreement was signed by representatives of the companies and the representative of Sir Dr. Emeka Ofor, Engr. Vincent Ekwekwu, who is the MD/CEO of EEDC.
In his welcome speech, shortly after the signing, the Chairman of EEDC, Sir Dr. Emeka Ofor, said the partnership would further extend technical and managerial support to the EEDC in its efforts to reduce energy losses, increase revenue, and improve overall performance of the utility.
He said the roundtable discussion is to chart a way forward towards generating enough power for businesses to thrive in Anambra State and beyond.
He speech read in part; “I am delighted to be part of this most important Investment Forum, which reflects our collective determination to unlock the enormous economic potential of Anambra State.
“I stand before you today not only as Chairman of our Group, but also as a proud son of Anambra State, an investor, and someone deeply committed to the progress and prosperity of our people.
“I have tremendous confidence in Anambra State as an investment destination. That confidence is founded on the entrepreneurial spirit of our people, our strong commercial and industrial base, and the enormous opportunities that exist across the State.
“From the industries of Nnewi to the commercial centers of Onitsha and the emerging economic clusters across Anambra, we have the solid foundations for sustained economic growth. What we need is the enabling infrastructure, institutions and environment to unlock this potential.
“FirstPower Electricity Distribution Company Limited fully supports this vision and is committed to contributing meaningfully to its realization.
“Distinguished Ladies and Gentlemen, our commitment rests on three important pillars:
“FIRST, we are committed to building a strong, inclusive and commercially sustainable Anambra Electricity Market.
“We recognize that achieving reliable electricity supply requires the participation of government, regulators, existing operators and new investors. We therefore warmly welcome credible investments in generation, embedded power, renewable energy, distribution infrastructure and other electricity services.
“FirstPower is willing and ready to collaborate with investors and stakeholders through commercially viable and mutually beneficial partnerships. We believe that a sustainable electricity market must be built on transparent regulation, respect for contractual obligations, investment protection, commercial discipline and fair returns on legitimate investment.
“We also recognize that electricity theft and vandalism of power infrastructure pose serious threats to reliable electricity supply, investment confidence and the financial sustainability of the electricity market. We therefore encourage the State Government, working with the Legislative branch, the Anambra State Electricity Regulatory Commission and relevant law enforcement agencies, to strengthen the legislative and regulatory framework and ensure effective enforcement against these practices, thereby protecting critical infrastructure, legitimate investments and the interests of electricity consumers.
“These principles are essential to attracting the long-term capital required to transform electricity market in Anambra State.
“SECOND, we are demonstrating our confidence through concrete investment commitments.
FirstPower has committed the following; ₦13.3 billion, within next year 2027 in priority network investments. Another ₦40billion has been planned for the following 2 years 2028 and 2029. These investments will strengthen distribution infrastructure, improve metering, increase network capacity and enhance electricity reliability across the State.
We are also finalizing arrangements with generating and Renewable Energy companies for approximately 205 megawatts of additional electricity capacity, while exploring over 420 megawatts of potential Embedded Distributed generation and interconnected mini-grid opportunities for collaboration with interested investors. These initiatives demonstrate our determination to support the State’s growing electricity requirements and provide the infrastructure necessary for sustainable economic development.
“I am pleased to announce that FirstPower is concluding PPA discussions to procure 55MW over the next few days. FirstPower and Greenewable Energy Ltd have also signed an MOU to develop 100 MW of embedded generation.
“Today, in this forum, FirstPower will sign Memoranda of Understanding with its investment partners to further our commitment to improving electricity reliability across the State. These partners include:Capstone Energies Limited for Distributed Embedded supply of 50 MW, North South Power Company Ltd for Distributed Embedded supply of 17 MW.
THIRD, we are committed to delivering measurable improvements in electricity reliability and customer service.
Ultimately, our success will be judged not by the investments we announce, but by the quality and reliability of electricity delivered to homes, industries and businesses. We are therefore committed to strengthening our network, improving metering, reducing losses, curtailing electricity theft and progressively increasing electricity supply availability, with the ambition of achieving 24 hours of daily supply by 2029 in most of the key towns of Anambra State. This will of course involve working with other electricity supply stakeholders who are desirous of moving the sector forward.
“Your Excellency, governor Chukwuma Charles Soludo, I want to reaffirm our strong support for your administration’s vision of transforming Anambra into a leading investment and industrial destination.
“We appreciate the efforts of the State Government and the Anambra State Electricity Regulatory Commission in establishing the foundations for a viable electricity market.
“To the investors gathered here today, my message is simple: Have confidence in Anambra State. The opportunities are enormous, the entrepreneurial capacity is proven, and the prospects for long-term investment are compelling.
FirstPower stands ready to work with credible partners to expand electricity supply, strengthen infrastructure and create lasting economic value. I firmly believe in Anambra State, in the capacity of our people, and in the tremendous opportunities that lie ahead.
“On behalf of the Board and Management of FirstPower, I reaffirm our commitment to investing in Anambra, strengthening its electricity market, and working with all stakeholders to achieve reliable, affordable and sustainable electricity supply.
“Together, we can power our industries, energize our businesses and build a more prosperous Anambra State, Sir Ofor advocated.
He further commended governor Soludo’s administration for recognizing the central role of electricity and for his ambitious vision of achieving 1,000 megawatts of power supply for Anambra State.
