Honeywell Group, a leading Nigerian conglomerate, has signed a Memorandum-of-Understanding (MoU) with General Electric (GE) for the development of its power generation facility.
Chief Executive Officer (CEO), Power, Honeywell Group, Mr. Chris Bale, disclosed this during a recent visit of Global Chairman and CEO, GE, Mr. Jeff Immelt, to Honeywell Group's Lagos office.
Explaining the significance of the alliance between Honeywell and GE, Bale, noted that Hudson Power Limited, a subsidiary of the Honeywell Group, had been licensed by the Nigerian Electricity Regulatory Commission (NERC) to generate electricity as an Independent Power provider.
According to Bale, "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 MoU with GE for the first phase of the project, which will generate 150MW. It is intended that GE will supply the turbines for this plant. Other opportunities for joint working will also be explored."
Bale further explained that apart from the power generation licence, Honeywell had also secured offer of gas supply, and power transmission and evacuation approval for the first phase of the 150MW power project, located in the Akute-Esorun region of Ogun State.
He said the project was at an advanced stage of development with the target of commercial operations, scheduled for early 2015.
Bale affirmed that the Group's was commitment to develop the Hudson Independent Power facility, explained why it was partnering GE, a leading global player to deliver the first phase.
He said: "Honeywell Group has a track record of successfully building businesses that have redefined critical sectors of the Nigerian economy. But we also see this power generation facility project as part of Honeywell's long standing commitment to investing in infrastructure development in Nigeria."