A United States (US) energy firm, New Generation Power (NGP) in conjunction with Motir Seaspire Advisors, LLC, have signed a memorandum of understanding (MoU) with the federal government to deliver 1,200 megawatt (MW) of utility-scale solar photovoltaic (PV) projects in Nigeria.
The partners to the MoU said the completed solar photovoltaic (PV) project would represent an investment of over $2billion.
A statement said the NGP had committed to work closely with Motir Seaspire and the federal government throughout the planning, financing and construction of the 1,200mw solar energy project.
Chairman of the NGP , Dr. Chirinjeev Kathuria, said once completed, the project would deliver around 590,400m-hours of solar power annually, which is enough to power roughly over 1 million Nigerian homes.
“The NGP family hopes that this introductory project will act as a benchmark for continued innovative and environmentally friendly renewable energy projects across Africa that will literally alter day-to-day life for millions of people,” he said.
He said with plans to fast-track the solar installation, the federal government was in the process of identifying and allocating land suitable for the project, in addition to licensing and other project requirements.
According to a Partner of Motir Seaspire, Jafer Hasnain, the project aims to connect Nigeria, the US and West Africa by providing a sustainable and efficient energy solution that will not only help the people of Nigeria, but also improve Nigerian energy infrastructure.
He said Nigeria had enormous solar energy potential, yet roughly 60 percent of Nigerians lack access to power.
Commenting on the development, Minister of power, Prof. Chinedu Nebo, said the project needed to be supported by all as it would be in tandem with President Jonathan’s long time wish for Nigeria to enjoy its abundant solar potentials especially those in rural areas.
“As it is envisioned that through a project like this, they would be linked to micro or mini-grid systems,” he said.