American investors to build $106m 50MW solar plant in Nigeria

Global Business Re­sources, USA, a con­sortium of interna­tional investors are in Nigeria for a follow-up discussion with officials of government for the realisation of two 50MW each solar-powered plants in Kum­botso, Kano State and Karu, in Abuja, Federal Capital Ter­ritory.

The group is targeting to de­velop a master plan that will fast track 100 per cent rural electri­fication in the next five years just as it has informed Nigerians that the project will leverage on resources from Obama-Power Af­rica Initiative.

From available information, $106 million will be required to fund these two plants. The group pledged to work with the ministry and other government agencies in the quest to achieve adequate power supply in the country.

According to the copy of pro­posal submitted to the ministry yesterday, in addition to putting in place a framework for the building of the two plants, the group is pre­pared to undertake Geographic In­formation System (GIS) mapping for renewable energy implement­ed by some African countries like Ghana, South-Africa, Kenya and Ethiopia, as this will help facilitate rural electrification projects on a public private partnership agree­ment, if adopted by Nigeria.

Minister of State (Power), Mo­hammed Wakil, had earlier met the group in Bridgeport, Miami, USA when discussion was opened on the projects. The group’s mission in Nigeria is to focus on develop­ing actionable renewable energy generation strategy using abundant solar resources in Nigeria.

At a meeting Wednesday in Abuja with Nigerian government officials led by Abayomi Adebisi, a director in the Ministry of Power, he said Nigerians were excited about the initiative, “as the country needs power even as at yesterday.”

While calling on genuine inves­tors to take advantage of the need-gap, Wakil said the vast resources of oil, gas, wind, sun and biomass should be developed for power generation, especially now that the sector has moved from pub­lic control to a private driven one. Even the transmission leg in the electricity chain is now managed by private sector concerns and would soon be privatised to allow for more resources into it.

Source : SunOnline

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