A Memorandum of Understanding for the generation and distribution of electricity at Integrated Produce City and other areas covered by Benin Electricity Distribution Company (BEDC) has just been signed in Lagos.
The parties involved include: Paras Energy Limited that serves as the embedded power generator for Integrated Produce City and BEDC via embedded generation; Integrated Produce City, the Landlord, power captive market provider, and initiator of the project; BEDC: The power distribution company covering Delta, Edo and Ondo that will distribute power in Integrated Produce City and evacuate the rest of the power for distribution in their network; and Vigeo Power: a power holding company that will provide power services outside the BEDC mandate or as requested by BEDC.
The Integrated Produce City (IPC) undertakes: Regional Wholesale Produce Market (hub for farmers in 5 states +more); Agro-Allied Industrial Park (50 local and International Processing Companies); Preservation Park (Silos and other Preservation systems); Export Hub; Implement, Agric Equipments, Seeds and Fertilizer Hub; Support Infrastructure such as: 24 Hours Electricity via Our gas Turbine (embedded Generation10mw), 24 Hours Water (International Industrial Standard), treatment and conversion plants (effluent, waste water and other wastes) etc.
The IPC objective stands as a value chain solution center for agri-business, offering the farmer the following opportunities: Full disposal opportunity for all his produce with the patronage of wholesalers, processors from the industrial park, sun-driers at the preservation park and exporters at the exporters’ hub; profit opportunity; opportunity to access credit; and increased production.
