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The 25-year-old striker has signed a two-and-a-half-year contract and is set to make his debut for The Lions in next week's Championship clash against Cardiff City.
"I'm excited at the prospect of playing for Millwall in the English League," Powel told the club's official site. "Hopefully I can score some goals to help us stay in The Championship. That is the first aim, but then I would like to be challenging for a place in the Premiership next season because that is where every player would love to play."