Governor Seyi Makinde, recently performed a groundbreaking ceremony within the state Secretariat Complex in Ibadan, for the construction of an 11 megawatts Hybrid Power Project in Oyo State, Nigeria.
According to Governor Makinde, the project whose main objective is to address the unstable power supply in the state will be carried out by Elektron Energy with “Ibadan Hybrid Power Limited (Hypower)” as the special purpose vehicle to execute the project within a period of six to eight months at the cost of N8.27 billion.
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Hypower will build, execute, operate and manage the power plant for a period of 10 years to recover its capital expenditure investment before transferring it to the state government. The company shall also be responsible for managing the distribution infrastructure through “Ibadan Hybrid Distribution Limited” which will hold an independent electricity distribution network.
Beneficiaries of the Hybrid Power Project in Oyo State
Highlighting some of the areas that would benefit from the Hybrid Power Project in Oyo State when completed, Makinde said that the state secretariat where the project is sited will be the first beneficiary along with government facilities within the secretariat.
“The Lekan Salami Sports Complex in Adamasingba, which was inaugurated in September will also benefit from the project when completed. Others are 12 healthcare facilities, including Adeoyo Maternity Hospital and the State Hospital, Ring Road in Ibadan.
This project will also power not less than 10 kilometers radius of public lighting under the Light Up Oyo project and in addition, it provides the energy needs of the two judiciary complexes at Iyaganku and Ring Road in Ibadan, not to mention, Oyo State House of Assembly and a selection of schools within a defined catchment from the generation plant,” explained the Oyo State Governor.
