A German firm LTI Re Energy and its Nigerian partner, NIGUS International, have sealed an agreement to light up the northern eastern part of the country through renewable energy resources.
The firms have made known their intention to commit N180 billion in the development of solar energy in that part of the country. The companies revealed that they would soon commence construction of 500 megawatts of power supply in the zone, beginning with Adamawa State in the next few days.
At the NIGUS-LTI Solar Investment round table held in Abuja, the Head, Overseas Operations, Nigerian Investment Promotion Commission, NIPC, Abubakar Yerima, said, the they were waiting to be issued license to commence operation. He added that, the company was ready to start construction of initial 500 megawatts and then expand, adding, “The NIPC has facilitated most of the meetings and we are now in final state of the PPA being approved.” Noting the investment would be in tune of $600 million, Yerima said, “Funding of the project is completely private sector initiatives’’. He said where the Federal Government comes in is in the areas of issuing of license and other forms of facilities needed, while commending the firms decision to invest in renewable energy resources in the North East zone which is a highly disadvantaged zone in the country because of the insecurity and other reasons.
He charged all stakeholders in the power industry to make their input in all the bills concerning the sector pending before the National Assembly in order to encourage maximum development of the sector. According to him, “Primarily, what we are discussing here goes beyond Adamawa State. We are talking about the future of Nigeria. We are talking about renewable energy, and this is the trend worldwide’’.
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