Shoreline Power company Ltd, an indigenous independent power company in collaboration with Odua investment Company will handle electricity distribution of Ibadan Zone of the Power Holding Company (PHCN).

The companies expressed their interest in the power project in response to the Federal Government’s bid to privatize electricity distribution.

Under the arrangement Odua will provide the funds with a view to developing and managing a positive relationship between the group and the south west people.

Shoreline Power Company Limited, a subsidiary of Shoreline Energy International an investment holding company operating in Africa with a diversified portfolio of holdings in oil and gas, power, engineering, and construction.

The company floated a 10MW power generation plant in Sagamu area of Ogun state recently, to supply power to WAPCO Plc’s Lafarge cement factory. The project estimated to cost N1billion, was designed to generate, transmit, and distribute power to defined customers in the area.