Ekiti State government has issued licenses to three electricity distribution companies (DisCos), four generation companies (GensCos), and two mini-grid generation companies as part of its plan to establish an off-grid power supply system.
This development was announced by Governor Biodun Oyebanji in a post made on his official X-handle on Thursday.
He further revealed that five-meter asset providers have also been licensed to help generate and distribute 130 MW of electricity to the state’s residents.
In total, 14 licenses were issued to electricity investors, aimed at reducing dependence on the national grid and promoting sustainable, locally managed energy solutions.
He added that the initiative aligns with the 2023 Electricity Law, which empowers states to decentralize the electricity market and better meet local energy needs.
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Governor Oyebanji highlighted that this move will address local energy needs while stimulating the state’s electricity market growth.
He stated, “I am pleased to share an update on the progress we are making in Ekiti towards achieving energy independence.
“We have granted operational licenses to 14 electricity investors, which include :
3 distribution companies
4 generation companies
2 mini-grid generation companies, and
5 meter asset providers.
“This strategic move will enhance power generation, ensure efficient distribution, and provide reliable metering for our residents.
“Currently, Ekiti receives approximately 20-25 MW from the national grid, which falls short of our estimated requirement of 120 MW. Our goal is to reach 130 MW through a robust state grid, reducing our dependency on the national supply and promoting sustainable, locally managed energy solutions.”
I am pleased to share an update on the progress we are making in Ekiti towards achieving energy independence.
We have granted operational licenses to 14 electricity investors, which include :
* 3 distribution companies
* 4 generation companies
* 2 mini-grid generation… pic.twitter.com/B5KNXzFJ6j— Biodun Oyebanji (@biodunaoyebanji) November 7, 2024
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