(SINL NIGERIA) The Edo government has signed an agreement with an indigenous energy company, E5 Energy Services Limited, to build a 100 megawatts hydropower station in the state.
The Managing Director of E5 Energy Services Ltd, David Ashaolu, in a statement made available on Wednesday in Abuja, said the memorandum of understanding (MoU) was announced on Tuesday.
Ashaolu said the MoU would have the company develop two state-of-the-art 50-megawatt power stations each in Ikpoba and Akoko-Edo areas of the state, utilising the Ikpoba and Ojirami water dams.
He said the groundbreaking agreement marked a significant milestone in the state’s quest for uninterrupted power supply and economic development.
He said the PPP project, which grants the company the initial exclusivity for 36 months, would not only ensure stable electricity for residents but also create employment opportunities for the local population by boosting businesses.
Ashaolu praised Gov. Monday Okpebholo for fostering a business-friendly environment that attracts global investors, emphasising that the partnership would go beyond power provision.
“In addition to delivering sustainable, renewable and reliable electricity, we will establish an industrial park to further boost economic activities in Edo State,” he said.
In her speech, the Permanent Secretary in the Ministry of Mining and Industry in Edo, Mrs Omoruyi, lauded E5 Energy’s initiative and assured the company of the government’s unwavering support throughout the project.
“The Edo State Government will provide a seamless working environment to ensure the success of this venture,” she said.
In his reaction, the Special Adviser to the Governor on Investment, Mr Kizito Okpebholo, described the investment as a major economic boost for the state, while stressing the governor’s enthusiasm for the project.
“This development reflects the governor’s commitment to positioning Edo as the centre for sustainable energy and industrial growth,” he said.
He assured the company of the governor’s staunch support for the projects and advised them not to shy away from tabling any request they might have before him.
