Alausa IPP Shows Oando Commitment to Indigenous Partnerships
The Alausa IPP marks another milestone in the relationship between Oando and the Lagos State Government.
- Abilene, TX (1888PressRelease) November 19, 2013 - Oando PLC has signified its pleasure at the recent commissioning of the joint venture 10.4MW Alausa Independent Power Plant which will provide power to the Lagos State Government Secretariat and facilities within Alausa. The plant is operated by Alausa Power Limited, an Oando subsidiary, and powered by environmentally friendly natural gas provided by Gaslink, another Oando subsidiary, through its gas pipeline distribution network. The use of environmentally friendly gas will drastically reduce environmental and noise pollution within and around the secretariat due to the displacement of over 100 diesel generators, and reduce carbon emissions by 3.4 million Lbs annually.
Speaking at the commissioning event, Oando PLC Group Chief Executive, Mr. Wale Tinubu, said, "Since the commissioning of the Akute Power Plant and the commencement of the Alausa IPP development, Oando Gas & Power has been approached by a number of state governments in diverse regions of the country seeking to replicate the project. The Alausa project was conceived by the Lagos State Government, executed by Oando Gas and Power, an indigenous Company and financed by Fidelity Bank Plc, an indigenous Nigerian bank, and further demonstrates that Nigerians are capable of delivering ingenious world class solutions to the numerous challenges facing the nation."
The Alausa IPP marks another milestone in the relationship between Oando and the Lagos State Government. In 2010, the Akute Power Plant was built by Oando Gas and Power and began the provision of 24 hours of uninterrupted electricity supply to the Lagos Water Corporation, which has helped to achieve a 300 percent increase in capacity utilization. Due to the constant power at the plant, LASG has saved about N600 million per annum, while ensuring that many Lagosians have access to a constant supply of clean water to their homes.
From its beginnings as a downstream marketing company to the development of the largest downstream natural gas distribution network in Nigeria, Oando PLC has steadily become the largest indigenous energy Company in Nigeria with asset ownership and presence across the entire value chain that epitomize industrialization and economic development.
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