Following the erratic power supply at Ado-Awaye community in the Iseyin Local Government Area of Oyo State, Psaltry International Company Limited, on Saturday, inaugurated a 1.1KW solar power installation and a 1.1MW battery storage system to address the community’s electricity challenges.
The alternative power project was sited at the company’s plant in Ado-Awaye.
During the inauguration of the project, Yemisi Iranloye, the Managing Director/Chief Executive Officer of the firm, stated that the solar energy initiative was created to assist the Ibadan Electricity Distribution Company, which has been providing inconsistent power supplies.
Iranloye stated, “This initiative will decrease energy expenses, cut down on carbon emissions, and allow the organization to concentrate on employment generation objectives through the use of the national grid, the solar setup, and the auxiliary battery system.”
Today, with our internal commissioning efforts, Psaltry is delighted to introduce a new sustainable energy system that includes 1.1 kilowatts of solar power alongside 1.1 megawatts of battery storage. This configuration will ensure the powering of our facility and extend benefits to Alayide village, which hosts us, as well as other areas.
We previously had significant expenses for electricity billed by IBEDC and for purchasing diesel. With the switch to solar power, we now benefit from lower energy costs, enabling us to redirect these savings into programs such as job creation efforts and scholarships specifically aimed at supporting girls’ education.
At the event, Tokunboh Ishmael—the head of international investors and also representing the Alitheia Group, a U.S.-based financial firm with operations in Mauritius—commended Iranloye for her tenacity in transforming their business from an initial startup into a world-renowned facility focused on cassava processing.
She also commended the company’s corporate social responsibility efforts, which include providing scholarships to farmers’ children, particularly girls, and supplying motorised boreholes and electricity to neighbouring communities.
Among those present at the event were delegates from other investors based in Abuja, Lagos, the International Development Corporation of South Africa, and the Bank of Industry, as well as others.
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