A consortium of 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, It was reports.
According to the Nigerian Investment Promotion Council
(NIPC) and the consortium, each of the solar power plants will have capacity to
generate 100 megawatts of electricity. 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, which also
included German firm; LTI Re Energy.
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.”
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