World largest developers and owners of solar energy, SkyPower Global, and Middle East energy consultants, FAS Energy, have jointly partnered the Federal Government of Nigeria and the Delta State Government for the development, construction and operation of 3,000 MW of solar PV projects, at an estimated cost of US$5 billion.
A statement issued by SkyPower’s Senior Director of International Affairs and Communications, Li Koo, said the agreements were signed at the on-going World Economic Forum on Africa, in Abuja.
It said the utility-scale solar photovoltaic (PV) projects, tagged SkyPower FAS Energy, would be built over the next five years.
“These foundational agreements represent a monumental renewable energy milestone, which entails a multi-phase development and build a schedule that will result in the production of clean, sustainable, cost-effective energy to support the growing energy needs of Nigeria,” the statement said.
“SkyPower FAS Energy is committed to work closely with both governments in the planning, financing, and construction of 3,000 MW of utility-scale solar PV energy projects for the Nigerian power grid, which are expected to reach commercial operation in phases, starting in 2015,” it added.
Representing the nations at the forum, it said, were the Minister of Trade and Investment for the Federal Republic of Nigeria, Olusegun Olutoyin Aganga, and the Minister of International Development for Canada, Honourable Christian Paradis.
“The Nigerian government is pleased to partner with SkyPower FAS Energy and we look forward to creating more power and more jobs for the people of Nigeria,” it quoted Permanent Secretary, Federal Ministry of Power, Ambassador Godknows Boladei Igali, of saying. “Foreign investment in Nigeria helps build the economy and strengthen international ties with a well-respected and viable partner such as SkyPower FAS Energy.”
It also quoted Honourable Christian Paradis as saying, “The signing of the Foreign Investment Promotion and Protection Agreement marks a significant milestone. It sends a clear signal to Canadian businesses that they can work in Nigeria with confidence, and to Nigerians that they can do the same in Canada.”
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