Nigeria Govt. Signs $10bn Clean Electricity Pact With U.S. Firm


LAGOS DECEMBER 17TH (NEWSRANGERS0-The Federal Government has signed a $10 billion development and Engineering, Procurement and Constructive (EPC) implementation framework agreement with a US firm: Sun Africa LLC. This agreement was signed on Wednesday at the US-Africa Business Forum (USABF) in Washington D.C. with the largest US renewable energy company operating in Africa.

The pact, according to a release by a Presidential Spokesman, Malam Garba Shehu, was for the construction of 5,000 MW of solar generation and 2,500 MWh of battery energy storage power plants for up to $10 billion investment from the US government.

It was signed by Otunba Adeniyi Adebayo, Minister of Industry, Trade and Investment, and Adam Cortese, CEO of Sun Africa, in the presence of Amos Hochstein, President Joe Biden’s Special Presidential Coordinator for the Partnership for Global Infrastructure and Investment.

In his address on Tuesday, President Muhamfailed  madu Buhari had said: “As part of the National Renewable Energy and Energy Efficiency Policy, we set the vision 30:30:30 which aims at achieving 30GW of electricity by 2030 with renewable energy contributing 30% of the energy mix” in the presence of President Biden and the world leaders, and sought the United States’ support to achieve it.

Sun Africa, Sterling and Wilson Renewable Energy Limited (“S&W”), a leading US and international solar EPC Company, and the Nigerian government have been working on the development of transformation grid-connected and mini-grids solar projects in multiple locations, including interconnection, electrification and smart meters infrastructure.

To ensure the broadest and most comprehensive approach to access electricity, Sun Africa is also implementing solar cabins and solar home systems where the mini-grids are not economically viable.

The project would be constructed in different phases across the six geopolitical zones and would provide clean, reliable and affordable electricity to more than 30 million.

New Telegraph

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Posted by on Dec 17 2022. Filed under Business, International, National. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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