Oyo State Governor, Seyi Makinde, has unveiled plans to establish a 500-megawatt solar power project in Itesiwaju Local Government Area, aiming to enhance electricity supply within the state and export power to other countries.
Speaking during the commissioning of the first phase of the 11-megawatt Ibadan Hybrid Power Plant at Agodi Secretariat, Governor Makinde emphasized the potential of the state’s energy market and invited investors in the sector to collaborate with the government.
The inaugurated phase of the Ibadan Hybrid Power Plant, a Build, Own, Operate, and Transfer (BOOT) private investment model, includes a 1-megawatt solar power facility and a 4-megawatt gas-fired generator. Initiated two years ago, the project reflects the administration’s commitment to driving development through private sector partnerships.
“This power plant is a testament to our vision for Oyo State’s future. It is 100% privately funded because the government alone cannot finance everything. Our role is to create an enabling environment that assures investors of our dedication and seriousness,” Makinde remarked.
The governor affirmed that the upcoming 500MW solar project aligns with his administration’s broader goal of achieving energy independence for the state before the end of his tenure.
