Nigeria Signs Deal to Generate 3000 MW From Solar Power

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The Nigerian Government is partnering with SkyPower FAS Energy for the development of 3,000 megawatts (MW) power generation project. The project estimated at $5 billion will provide utility-scale solar photovoltaic (PV) projects and it’s expected to be implemented over the next five years. Through this renewable energy project, Nigeria hopes to reduce carbon emissions and create a great impact on the country’s GDPs.

Financing for the project shall be drawn from bank debt, development bank financing and equity partners. Work on the solar panel farms begins in 2015. According to Permanent Secretary, Federal Ministry of Power, Ambassador (Doctor) Godknows Boladei Igali, the project will be a great source of jobs and skills training in the country.

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