A consortium of American investors in renewable energy, under the auspices of MOTIR SEASPIRE, has signed a Memorandum of Understanding with the Federal Ministry of Power to deliver in two years, 1,200 megawatts of solar powered electricity in Nigeria.
The proposed solar technology to be installed in Nigeria will be of United States standard, according to the Minister of Power, Prof. Chinedu Nebo, as he assured that the consortium had the capacity to increase the scope of project up to 10,000MW in the next five years.
A statement from the power ministry quoted the President/CEO, MOTIR SEASPIRE, Mr. Emmanuel Irono, as saying that the team had a portfolio of over $5bn that could be accessed over a period of five years into its integrated renewable energy projects.
He said the initial 1,200MW will be realised in the next two years, adding that the local content component of 80 per cent Nigerians will make the country the hub of its activities in Africa.
He said, “As a compatriot, the concern for providing employment to the teeming populace will be a plus to the company’s quest for provision of training for the Nigerian workforce in the power sector in general and renewable energy in particular.”
Responding, the minister of power said he was excited that a compatriot was making this giant stride of harnessing the vast potentials of energy in solar. Click to signup for FREE news updates, latest information and hottest gists everyday
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