Power Analytics & Solutions, an indigenous investor, and CEC Africa Investment, a major investor in the Abuja Electricity Distribution Company, AEDC, in Abuja, have signed a memorandum of understanding (MoU).

Speaking at the MoU signing, the Director of Power Analytics & Solutions, Tony Ezeani said the company was bringing in over $2bn into the AEDC. According to him, “The MOU is both for financial and technical support. What we want to do is to invest with CEC, take over and expand the distribution network,” he said.

Also, the Managing Director, CEC Africa, Emmanuel Katepa, said the sector needs collaborative efforts to make it function optimally. According to him, AEDC has of recent recorded lots of success stories despite the challenges. “It is one of the best DISCOs in the country,” Katepa said.

Source: Ripples