Sage Grey is pleased to announce the inaugural board meeting of OSNO Sunshine Biofuels Limited. Sage Grey acted as transaction advisors to Obax-SDIC Complan for the development of the $180Million integrated Cassava Plantation and Fuel-Ethanol Plant complex in Okeluse, Ondo State. The project is estimated to produce 191 million liters of fuel ethanol (DPR Spec.) from 1.08 million tonnes of cassava (fresh and dry variants) feedstock and create over 1.3 million jobs. OSNO Sunshine Biofuels Company Limited is a special purpose vehicle between NNPC (Nigerian National Petroleum Corporation), OBAX-SDIC COMPLANT and Ondo State Government. While delivering a speech at the inaugural board meeting, the Managing Director of OSNO Dr. Ralph Imansi-Jacob was excited to point out that when completed, the project will serve as a replacement to current fossil fuels and will align Nigeria’s energy production/use with global environmental best practices for sustainable development through the use of renewable energy. He explained that the project will provide a substitute for local imports, expand the agriculture value chain and provide an opportunity for export, thereby strengthening the country’s currency through the influx of foreign exchange.

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