Nigus Investments in cooperation with German renewable solutions provider LTI ReEnergy and support of NIPC have concluded plans with the Federal Government to build five 100 MW solar power plants in North-Eastern states of Nigeria.
With the solar power plants worth US$ 600 million the contracting parties aim at setting up the renewable energy hub in Sebore Export Processing Zone in Adamawa State. The plans of the cooperation were revealed during the first ever solar event in the country “Nigus-LTI Solar Investment Summit”, which recently gathered representatives of the relevant Government Agencies such as Nigeria Electricity Regulatory Commission, Transmission Company of Nigeria or Nigerian Bulk Electricity Trading PLC as well as key industry and business stakeholders and national media.
World Bank estimates that Nigeria today would require some 20.000 MW to run its economy of 170 million people, but the country can barely generate 4.500 MW. “We would like to exploit the enormous potential for solar business in our country and we believe that Nigeria will become the renewable energy hub for ECOWAS (The Economic Community of West African States),” stated HRH Prince Malik Ado-Ibrahim, Chairman of Nigus Investments.
Continuing on the projects timeline Chris Voet, Chief Sales Officer at LTI ReEnergy expects breaking ground of the first 100 MW project in Adamawa State in Q1/2017 and the subsequent one in Q2/2017. “We are honored that we can contribute to the solar boom in Nigeria and joining the renewable energy production hub in the country as it is a part of our ‘German heart and local content’ strategy,” he added.
More information can be found in video interviews with NIPC, Nigus Investments, LTI ReEnergy and Sebore executives.
Silke Funke / LTI ReEnergy