The Edo State Government has entered into a significant collaboration with E5 Energy Services Limited, a local energy firm, to establish a 100-megawatt hydropower station within the state.
The memorandum of understanding (MoU), was disclosed by David Ashaolu, the Managing Director of E5 Energy Services Ltd., in a press release on Wednesday from Abuja.
The MoU outlines plans for the construction of two advanced 50-megawatt power stations, strategically located in the Ikpoba and Akoko-Edo areas, leveraging the potential of the Ikpoba and Ojirami water dams. Ashaolu underscored that this agreement represents a pivotal moment in Edo State’s ongoing efforts to ensure a stable power supply and stimulate economic growth.
“This public-private partnership (PPP) provides our company with an initial exclusivity of 36 months. It promises not only a reliable electricity source for the residents but also the creation of numerous job opportunities, ultimately invigorating local businesses,” Ashaolu stated.
He extended his gratitude to Governor Monday Okpebholo for cultivating a business-friendly atmosphere that attracts investments on both local and international fronts. Ashaolu emphasized that the partnership would extend beyond merely supplying power.
“In addition to delivering sustainable, renewable, and reliable electricity, we will establish an industrial park to further boost economic activities in Edo State,” he added.
Mrs. Omoruyi, Permanent Secretary in the Ministry of Mining and Industry, commended E5 Energy’s initiative, assuring the firm that the government would provide comprehensive support throughout the project’s execution.
“The Edo Government will provide a seamless working environment to ensure the success of this venture,” she affirmed.
Mr. Kizito Okpebholo, Special Adviser to the Governor on Investment, described the investment as a powerful economic stimulus for the state. He reiterated the governor’s enthusiasm regarding the project and its strategic importance.
“This development reflects the governor’s commitment to positioning Edo as a hub for sustainable energy and industrial growth,” he remarked, urging E5 Energy to bring any requests for assistance directly to the governor.
