Oyo to Get Major Solar Power Injection as Makinde Announces 500MW Project
Oyo State Governor Seyi Makinde has unveiled his plan to launch a 500-megawatt solar power project in Itesiwaju Local Government. The initiative is aimed at enhancing local electricity generation and potentially export excess power to other countries before Governor Makinde’s term ends. He urged energy sector investors to collaborate with the state, while highlighting the vast opportunities in the state’s energy market.
Governor Makinde stated this during the inauguration of the first phase of the 11-megawatt Ibadan Hybrid Power Plant, a groundbreaking Independent Power Project in Oyo State, located at the Power House, Secretariat, Agodi, Ibadan. The project’s initial phase includes a 1-megawatt solar power component and a 4-megawatt gas-fired power generator.
The power plant, a privately funded initiative under the BOOT model, was initiated two years ago as part of the state government’s broader development strategy. According to the Governor, the inauguration of the project’s first phase marks a crucial milestone that will drive future development in Oyo State
“This power plant is entirely funded by private investors, as the government cannot bear the entire cost. However, we have created a conducive environment to assure investors of our commitment and seriousness.” Makinde said,