July 14, 2024
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Nigeria’s Sovereign Fund Plans 300 Megawatts Solar Power Project

Nigeria’s Vice President, Kashim Shettima, announced plans for the construction of a 20-megawatt solar power plant in collaboration with a local firm, marking the initial phase of a larger 300-megawatt project.

Vice President Shettima revealed the development during an event in Abuja on Tuesday, where the joint venture agreement between the Nigerian Sovereign Investment Authority (NSIA) and North South Power (NSP) Company Ltd for the establishment of the Shiroro Generating Company was signed.

The Shiroro Generating Company, Nigeria’s pioneering on-grid solar-hydro hybrid project, aims to address Nigeria’s energy deficit, particularly in light of its population exceeding 200 million people, and will be a significant step towards enhancing the country’s power generation capacity.

The 20-megawatt pilot project is part of a broader initiative to establish a 300-megawatt solar programme, strategically located within NSP’s existing 600-megawatt Shiroro Hydroelectric Power Plant concession area in Shiroro, Niger State.

“As a nation, our resolve is to take proactive steps to diversify our energy sources, reduce our carbon footprints and ensure a more sustainable future for generations to come,” the vice president said in a statement.

“This project will catalyze the realization of other hydro-solar projects and serve as a test case for deployment of solar energy on to the national grid.”

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