The Benue Investment and Property Company Limited (BIPC) is partnering INDASSOL to develop a 5-megawatt power generation plant to cut down on its monthly spending on energy cost.
This decision was made on the heels of the Benue local Investors forum in the bid to reduce power cost at BIPC from 2.3M monthly.
This decision was made during a strategic partnership meeting in Makurdi between Dr. Raymond Asemakaha, the Managing Director of BIPC, and representatives from INDASSOL, namely Mr. Murat Cengiz, Mr. Ahmet Garipagaolu, Dr. Vincent Dogo, Mr. Jude Okotcha Pendragon, and Mr. Victor Theophilus.
According to the Managing Director, the plant when completed will provide energy to the company with the surplus sold to some Government agencies in the state.
Dr. Asemakaha emphasized the company’s commitment to pursuing innovative solutions that can contribute to the economic growth of the state from $5.8m GDP to $8million adding that the 5-megawatatts will be test run in the corporate headquarters of BIPC.
By collaborating with INDASSOL BIPC intends to harness the expertise and resources of both entities to drive economic development and positively impact the state.
Recognizing the potential benefits, the representatives from INDASSOL expressed their interest in providing Steam and Gas Turbine power Plant energy to BIPC and even suggested expanding power generation for commercial purposes in the state.
The company urged BIPC to consider venturing into the power generation business as a participant for the state in the deregulation of the power sector that gives states rights to own their power plants.
The partnership aims to address the pressing need for power supply and explore opportunities in various sectors such as exploration, oil and gas and road construction.
