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Nigeria signs $1.75b Solar Power Project in Partnership with 14 companies.

by | 12-08-2016 19:44


Nigeria majorly generates her power from hydro-electric power began fulfilling her promises on   introducing other renewable sources of energy especially solar power in the country.

 

About two and half decades now, the erratic supply of power in Nigeria has become a major economic and social problem. This is due to inadequate generation and distribution of electricity at the required capacity throughout the country.

 

At present, the power generation in the country is less than 4000 Megawatts (MW)  whereas the entire population will need about 10,000 Megawatts (MW) to attain a steady supply of electricity to her citizens. This has adversely affect industrialization and development of small scale enterprise in the country.

 

Last month, the Federal Government in Abuja signed a Front-Runner Solar Power Purchase Agreements (PPAs) worth 1.75 billion dollars with 14 companies to build 1125 Megawatts (MW) capacity of renewable power in the country.

 

The Minister of Power, Works and Housing, who signed the documents on behalf of the government, said the agreement was to demonstrate government?s commitment to diversify Nigeria?s power industry.

 

He disclosed that before the year 2030, Nigeria would have achieved 30 per cent capacity in renewable energy, adding that Nigeria would invest in renewable power in areas such as Biomass and coal.

 

The project was situated in the Northern part of the country due to the high and long hours of sun rays in the region.