Former President Chief Olusegun Obasanjo, on Friday, inaugurated a 2MW solar power energy at the Olusegun Obasanjo Presidential Library (OOPL), in Abeokuta, the Ogun State capital.
While urging the federal government to show a sense of commitment towards producing renewable energy.
The former president noted that renewable energy is ” achievable, affordable and transformative”.
He said “We hope that by committing to consuming renewable energy we inspire others to follow and still inform others to do their bit for the environment. Our great nation also needs to commit to producing our electricity from renewable energy and truly clean carbon-free sources. This goal is achievable, affordable and transformative. It represents a challenge to all Nigerians – in every walk of life, to our political leaders, entrepreneurs, innovators, engineers, and to every citizen.
“This is a generational moment. I’m asking each of you to join me and build this future. Our success depends on our willingness as a people to undertake this journey. We have a duty of care to the planet and to every person upon it. We must fulfil it by making our energy system clean, efficient, affordable and sustainable.”
He described the project as “the single largest investment this not-for-profit organization has made.”
“As large investment as it is, it is remarkably cost-effective. It costs less than two and half years supply of diesel to power our generators. So in diesel terms, it pays for itself in less than 3years. So in effect, the electricity it produces after three years is almost at no cost. In addition, because it is not emitting any greenhouses gases than diesel generators do, it has the potential to earn carbon credits which are currently priced at US$ 40/ton. Based on estimated annual production of 2,307,000 kiloWatt hours per year, we can expect to earn nearly US$39,589 in carbon credits per year,” he said.
The Deputy Managing Director of Dantata Solar Limited, Najeem Animasahun told newsmen that 70 percent of the materials used for the execution of the project as well as the human resources were sourced from Nigeria.
He added that only the inverter and the panels were the materials imported into Nigeria.
Animasahun added that a 25 years warranty was placed on the project, saying, the advantages far outweigh any expected shortcomings.
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