We are excited to bring together Investors, Investment Development Partners, Industry Professionals, and Business Leaders to understand the vast opportunities for Sustainable Energy in Oyo State.
Did you know that over 55% of Oyo State’s population lacks access to electricity? And even those with access to electricity often experience erratic power supply? The power deficit of 94,500MW presents a major opportunity for Investment in the power sector, including solar farms, mini-grids, and other forms of Sustainable Energy.
Interestingly, Oyo State has natural endowments that make it well-suited for Sustainable Energy solutions. For instance, the State generates approximately 3,000 Metric Tonnes of waste daily, which can be converted into energy through the use of refuse-derived fuels or biomass. Oyo State also has excellent weather conditions for solar farms and wind-powered plants, as well as 30 dams that can be utilized for sustainable energy solutions.
The Oyo State International Business Summit 2023 is a unique opportunity for Investors, Industry Professionals, International Development Partners and Donors to learn more about the exciting Investment opportunities available in Oyo State’s Energy sector.
These opportunities include and not limited to the following:
- Development of Independent Power Projects and captive power generation for power generation to Special Economic Zones: Oyo state currently has population more than 8 Million and over 55% of residents suffer from irregular power supply. Due to the collapse of the national power grid in Nigeria, the State suffers huge electricity supply gaps. These gaps have created huge opportunities for Investors and International Development Partners to develop Independent Power Supply for both urban and rural communities and industries in the State.
- Initiatives to electrify Rural and Peri-Urban areas: There is growing awareness of the use of sustainable energy in both urban and rural settings. In rural areas, there are community-based projects that use 5KVA solar-powered units to power water pumps with a capacity of 1 to 2 horsepower. When the national grid fails, homeowners in metropolitan areas are gradually using solar panels, which typically vary from 1 KVA to 20 KVA depending on consumption, to power their needs.
- Waste to Energy: Electricity generation from municipal solid waste through Waste-To-Energy will produce great economic and environmental benefits for a State like Oyo State, that has over 3% population rise year on year, and also facing constant electricity shortage with challenge in proper Solid Waste Management.
- Hydroelectricity Generation: The State has 30 Dams which can be utilized for renewable energy solutions. For instance, the Ikere Gorge Dam’s 450MW potential can be exploited with technical and investment support, and additional earth dams and rivers. Also, the Eleyele River and Asejire River, among others will be optimized for the production of hydroelectric power in the State- there’s huge investment gap here.
- Community security and solar street lighting projects: Oyo State has excellent weather to support massive solar farms. In the same regard, our weather is also conducive for wind powered plants. Businesses are steadily putting money into solar panels and solar-powered street lights on major roadways in some of the state’s most important cities.
Achievements so far
- Over 240 Kilometers of public lighting.
- Over 8000 homes, businesses and 22 rural communities connected to electricity.
- Over 1500 individual units of Solar Street Lights.
- 60mm scuff of Gas per Day.
- 23 Healthcare centres connected to electricity, and over 70,000 patients attended to within one year.
Join us at the Oyo International Business Summit 2023 to learn more about the exciting Investment opportunities for Sustainable Energy in Oyo State and connect with other Investors, Industry Professionals and Business Leaders.
Don’t miss out on this opportunity to get accurate information on Investment opportunities available in Oyo State and also expand your knowledge and network. Secure your spot today by registering as a Delegate. Register Now and follow the prompts to complete your registration.
Contact us today to learn more!