(3 minutes read)
- Seyi Makinde, Oyo State Governor has flagged off the construction of an 11 megawatts (MW) independent power project recently.
- At the occasion of the launch of the project, he expressed the confidence that with necessary infrastructure, the state would continue to lead in power generation and a major source for power generation in the country
- It is conceived as a hybrid power plant and is executed by Elektron Energy on a build-operate-transfer (BOT) model
- The facility would provide power to government facilities within Agodi and environs
Seyi Makinde, Oyo State Governor has flagged off the construction of an 11 megawatts (MW) independent power project recently. At the occasion of the launch of the project, he expressed the confidence that with necessary infrastructure, the state would continue to lead in power generation and a major source for power generation in the country. It is conceived as a hybrid power plant and is executed by Elektron Energy on a build-operate-transfer (BOT) model. The facility would provide power to government facilities within Agodi and environs.
The energy generated at the state or local level can be fed to the national grid before it could be distributed. The governor maintained that independent power distribution was permissible under the law.
Other facilities the 11MW hybrid power solution would cater to include 12 healthcare facilities, Lekan Salami Sports Complex, the judicial complexes at Iyaganku and Ring Road, the State’s House of Assembly and a section of schools within a defined catchment from the generation plant. The project will be completed in eight months at a cost of N8.027 billion. The state government would repay Electron Energy for over a ten-year period within which the energy company will operate and manage the infrastructure.
The Special Purpose Vehicle that Elektron Energy will set up to execute the contract is Ibadan Hybrid Power Limited (IH Power). This entity will also be responsible for managing the distribution infrastructure through Ibadan Hybrid Distribution Limited.
