Edo State Governor Monday Okpebholo is actively courting investors in the renewable energy sector, promising a range of incentives designed to stimulate investment and revolutionize the state’s power supply.
Speaking at the Edo Renewable Energy Summit, Governor Okpebholo, represented by Commissioner for Power Paul Usenbo, emphasized his administration’s commitment to providing uninterrupted electricity to all residents of Edo State.
The summit, which brought together industry leaders, development partners, and energy experts, served as a platform to explore sustainable energy solutions for the state. Governor Okpebholo highlighted the critical role of energy as a driver of economic growth, industrial development, and an improved quality of life for Edo residents.
He stated that his administration recognizes the importance of a balanced energy mix, fueled by innovation, sustainability, and strategic investments in renewable sources.
“Edo State is strategically positioned to emerge as a leader in clean and sustainable energy development,” the Governor asserted.
He pointed to the state’s vast potential in solar energy, biomass, and other renewable resources, emphasizing that their full utilization would guarantee reliable electricity, power industries, and create numerous jobs. As a tangible step towards strengthening energy infrastructure, the Governor cited the recent groundbreaking of the 100MW Ologbo Power Plant and Liquefied Natural Gas (LNG) facility.
Governor Okpebholo stressed that achieving the state’s ambitious energy transition goals requires collaboration.
“Partnerships with the private sector, investors, development organizations, and innovators are crucial to unlocking opportunities in the renewable energy space,” he stated, acknowledging that the government cannot achieve these goals alone.
However, Saturday Omozokpea Egbadon, Director-General of the Edo State Electrification Agency, injected a note of caution. He revealed that a significant number of renewable energy proposals submitted to the state – over 200 – were deemed unfeasible.
Egbadon urged investors to conduct thorough feasibility studies and to develop a deeper understanding of the specific energy needs of different areas within the state, particularly when identifying suitable locations for mini-grid deployments.
Echoing Egbadon’s sentiments, investors attending the summit called for improved regulatory frameworks and capacity-building initiatives to ensure the success of renewable energy projects in Edo State. They emphasized that a supportive and well-defined regulatory environment, coupled with skilled local workforce, would be vital for attracting and sustaining investment in the sector.