NIGERIA SOVEREIGN FUND TO UNDERTAKE DEVELOPMENT OF 20 MEGAWATTS SOLAR PLANT

On March 19, 2024, Nigeria witnessed a significant development in its energy sector, particularly in addressing challenges related to power supply, as plans were unveiled to utilize the sovereign fund for the construction of a 20-megawatt solar power plant.

Vice President Kashim Shettima disclosed that the 20-megawatt power plant would be established through a partnership with a local firm, marking the initial phase of a larger 300-megawatt project. However, Shettima did not reveal the project’s cost or commencement date for construction.

Notably, Nigeria, with a population exceeding 200 million, boasts an installed power generation capacity of 12,500 megawatts (MW). Despite this, actual power production falls significantly short, leading many households and businesses to rely on petrol and diesel generators.

Speaking at the signing of a joint venture between the Nigerian Sovereign Investment Authority (NSIA) and North-South Power (NSP) Company Ltd in Abuja, Vice President Shettima emphasized the country’s commitment to diversifying energy sources, reducing carbon emissions, and ensuring a sustainable future.

He highlighted that the project would not only facilitate the realization of other hydro-solar initiatives but also serve as a pilot for integrating solar energy into the national grid.

The Shiroro Generating Company, situated in Shiroro, Niger state’s northwest region, serves as the location for the hybrid project. The 20-megawatt solar plant pilot initiative is part of a larger 300-megawatt solar program, which will be co-located within NSP’s existing 600-megawatt Shiroro Hydroelectric Power Plant concession area in Shiroro, Niger State.

Source: Adetunjic Tobi Techeconomy