The Ondo State Government has issued power generation and distribution licences to two companies in a bid to enhance electricity supply and drive economic growth.
The licences were granted to Ore Power Limited and ASB Valiant Electricity Limited by the Ondo State Electricity Regulatory Bureau under the Ondo State Electricity Law, 2020.
At the ceremony held in Akure, the Commissioner for Energy and Mineral Resources, Johnson Alabi, said the initiative reflects the state government’s resolve to build a reliable and investor-driven electricity market.
He commended Governor Lucky Aiyedatiwa for his commitment to transforming the power sector, adding that recent reforms by the Federal Government have created opportunities for states to take greater control of their electricity markets.
Alabi noted that the move would ensure improved electricity supply to households and industries, describing power as a critical enabler of economic development.
He highlighted measures already introduced by the state to strengthen the sector, including subsidised metering, the establishment of special electricity courts, and plans for a statewide grid covering all three senatorial districts.
According to him, the government is also integrating existing power assets into commercial operations while developing a structured electricity market.
Earlier, the State Coordinator of the regulatory bureau, Stephen Bolawole, said the licensing aligns with the government’s plan to deliver a sustainable and efficient electricity system.
He explained that Ore Power Limited is expected to generate up to 100 megawatts of electricity to boost supply in Ore and surrounding communities, while ASB Valiant Electricity Limited will construct an 18-kilometre Omotoso–Ore 33KV line to improve power distribution.
Bolawole added that the licences are backed by legal and regulatory provisions, urging the companies to meet performance standards.
Also, representatives of the Ondo State Development and Investment Promotion Agency reiterated the state’s commitment to attracting investors into the energy sector.
In his remarks, the Chief Executive Officer of Ore Power Limited, Ayodele Ikumapayi, expressed confidence that power generation would commence within six months, with plans to expand operations across the state.
Discover more from Rootedscope Media
Subscribe to get the latest posts sent to your email.
