• Thursday, February 29, 2024
businessday logo

BusinessDay

IBEDC plans embedded power generation to boost capacity

businessday-icon

The Ibadan Electricity Distribution Company (IBEDC) says it plans to raise its capacity through embedded power generation, even as the distribution company prepares to launch a new brand identity ahead of its one year anniversary in November.

Speaking at a pre-event press conference in Ibadan, Fortunatus Leynes, managing director/CEO, revealed that the company will hold an open bidding to choose two top bidders who will be expected to inject between 15 megawatts and 30 megawatts (mw) to the distribution company’s capacity in order to satisfy its customers.

Leynes, who said one of the challenges facing the company was that there wasn’t enough power generating capacity to distribute, said the move was to complement the company’s distribution to customers in the franchise area.

While saying that some of the companies that approach IBEDC to generate electricity will be through solar and gas, Leynes disclosed that the Ibadan disco planned to add about 200mw to distribute in the franchise areas.

IBEDC, one of the distribution companies that took over the running of the unbundled Power Holding of Nigeria (PHCN) assets, covers Oyo, Ogun, Osun and Kwara states as well as parts of Kogi, Ekiti, and Niger states.

To improve on its services in the franchise areas, the IBEDC boss told journalists at the conference that the company has started buying electricity distribution materials like transformers, poles and conductors that will improve its distribution capacity

According to him, we are also buying metres so that our customers will be appropriately metered adding right now, we have this metre application which could be got through Credited Advance Payment for Metering Implementation (CAPMI) scheme in which customers would make initial deposit and the company would refund the deposit over a period of 36 months with corresponding interest and within 45 days their metres are installed.”

The IBEDC MD/CEO revealed that its core investors had secured $160million funding from a consortium of banks led by Skye Bank Plc, to improve its operations. While highlighting the company’s achievements in the last ten months, Leynes stated: “we were able to manage the clearing of faults shorter than previously experienced by our customers prior to handover. Now, our customers can testify to our quick response on fault clearing and line repairs.”

“It is pertinent to note that as a distribution company, we are at the tail-end of the electricity supply chain, it is what is delivered to us that we distribute to our customers.”

Announcing its proudest landmark achievement, Leynes, and John Darlington, deputy managing director (DMD), said that the company spent N150million to rehabilitate its Akanran substation at Olorunsogo following a brazen arson that damaged two 15MVA transformers under the former PHCN management, leaving the residents of the area without power for over two years adding that the substation has since been commissioned by Governor Abiola Ajimobi of Oyo State. Leynes who addressed the press alongside top management of the company disclosed that IBEDC inherited staff strength of about 2,900 employees from the defunct PHCN and said they have been reduced to 2,200.

He stated that the company however hired skilful and competent employees to add value to the performance level of its workforce.

He therefore said a rebranded and refocused workforce is been programmed for efficiency and effectiveness in job performance.

REMI FEYISIPO and OLUSEGUN ABISOYE