Solar Panel
A consortium of German renewable energy
companies led by Nigus has concluded plans with the Federal Government
to build five solar power plants worth N183bn ($600m) in some
North-Eastern states.
According to the Nigerian Investment
Promotion Council and the consortium, each of the solar power plants
will have capacity to generate 100 megawatts of electricity.
Speaking to journalists on the sidelines
of a meeting between the council and the consortium in Abuja on
Tuesday, the Head, Overseas Operations, NIPC, Mr. Abubakar Yerima,
stated that the decision to build the power plants in the North was
reached after several meetings with the investors.
He said, “After several meetings and
agreements, we had a MoU signed in the United Kingdom, which led to the
event of today. Nigus is coming with a complete value chain. The LTI Re
Energy is part of the investment and this company (LTI) is one of the
largest power firms in Europe, it is a German company.
“Nigus is going to start in Adamawa
State, because the radiation there is one of the highest in the country.
They will set up their solar farm and beside this farm, LTI will set
its production line, making it a complete value chain. In each of the
places that they are setting up their plants, they will generate 100MW.
“They will start with five locations and
then expand; so, we are looking at 500MW for a start. As soon as they
get the licences, they will start setting up their plants and the NIPC
has met the necessary agencies in the power sector with respect to this.
We are now in the final stages of the Power Purchase Agreement being
approved.”
On the cost of the projects, Yerima
stated, “It is about $600m investment and it is completely a private
sector driven initiative. All the investments are coming from the
private sector. Where the Federal Government comes in has to do with the
licences and permits as well as all other forms of facilitation needed
for a smooth process.
“The initiative is driven by a
consortium of companies and Nigus is leading. So generally, the
investments will be in the states in the North-East as well as some in
the North-West, because of the solar radiation in these regions.”
Yerima stated that the move was in line
with President Muhammadu Buhari’s vision of bringing in enough power
into the Nigerian economy, as well as the new global concept of
promoting renewable energy to cut down on carbon emissions.
On the security situation in the region,
he stated that it would not deter determined investors, stressing that
despite the tense security concern in Afghanistan, some investors still
invested in the troubled country.
“However, the Boko Haram issue has been well taken care of presently,” he added.
Also commenting on the plans to invest
in the North and when the projects will be completed, the Chief Sales
Officer, LTI Re Energy, Mr. Chris Voet, said the first 100MW plant
should be ready by March 2017.
“We are starting now and we will be
concluding the first 100MW in the first quarter of 2017 and the
subsequent one should come up in the second quarter or thereabout, for
it takes us three to six months to set up the assembly plant,” he
explained.
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