WITH the aim of improving power supply in the country, the Federal Government (FG) on Thursday, gave 14 front line solar developers go-ahead to generate about 1,125 Megawatts to the national grid through solar.
The energy generated, is valued at 11.5 cents approximately N23.
Speaking in Abuja at the signing event of the frontrunner solar PPAS organised by the Nigerian Bulk Electricity Trading (NBET), the Minister of Power, Works and Housing, Babatunde Fashola, explained that the price is expected to drop further as the technology grows better.
He stated that with the determination of the present administration to provide incremental, stable and uninterrupted power supply to Nigerians, all areas would be explored to deliver on this.
He said;”it is the policy of the government is no longer subject to vulnerability on the over dependence on one source and every source of energy, wind, solar, gas, coal, biomass will be exploited in our desire to create a robust dynamic energy mix.
“We feel this is a good to place to begin and we say that this pioneers have opened the door for other players to come in and we expect that the price drops further as the technology gets better.”
While stressing the need for investors to ensure quality products in building their power infrastructures, he said:” I want to say briefly that as you go towards the process of building, remember when you start to build never compromise the quality focus on the durability, we must stop managing, we must insist on the best.”
Speaking further, he said:”I say this because some of the investments that have been made in building power lines, distribution facilities should have been better delivered but some of them, we may still have to go back to rebuild and replace them.
“This is an opportunity to ensure that our people get the best sector has to offer to the real and responsive economy. I say that your investment in solar power today takes us to the global stage of nations committed to renewable energy.
“It is the policy of the government is no longer subject to vulnerability on the overdependence on one source and every source of energy, wind, solar, gas, coal, biomass will be exploited in our desire to create a robust dynamic energy mix.”
The 14 developers are; Pan Africa Solar 75MW, Katsina, Nigerian Solar Capital Partners 100MW, Bauchi, Afrinigergia Power Limited 50MW, Nasarawa, Motir Dusable Limited 100MW, Enugu, Nova Solar 5 farm limited,100MW, Kastina, KVKPower (Nig) Pvt limited 100MW, Sokoto, Middle band solar 100MW, Kogi,
Others are; LR Aaron power limited 100MW Abujja, Nova Scotia power development limited 80MW, Jigawa, CT cosmos 70MWs, plateau, eN Africa 50MW Kaduna, Oriental renewable solutions 50MW, Jigawa, Quaint Abiba Power 50 MW, Kaduna and Anjeed Innova group 100MW Kaduna.
Earlier, representative of the Pan Africa solar investor, Mr Marcus Heal, expressed the investors readiness to provide uninterrupted power to Nigerians through solar.
According to him, the $1.75 billion investment is one of the largest power investments in power infrastructure.
He observed that there was much to be done in the electricity sector noting that Nigeria has all that is needed to improve on the sector.
He said “Nigeria will be among the developing world where her greatest energy is generated through sun.”