Canadian firm to invest US$5 billion on solar projects in Nigeria

SkyPower-FASNigeria high commissioner, Ojo Uma Maduekwe, permanent secretary, federal Ministry of Power, Ambassador Godknows Boladei Igali (centre), and Skypower Global's vice president of Development for Africa, Benoit Fortin (right) following the signing of the agreements in Abuja, Nigeria. (Image source: Skypower)Skypower FAS Energy has signed agreements with both the Federal Government of Nigeria and the Delta State Government for the development, construction and operation of 3,000MW of solar photovoltaic projects

The joint venture between Skypower Global and FAS Energy, will build the utility-scale photovoltaic projects at an estimated cost of US$5bn and are expected to reach commercial operation in phases starting in 2015.

The 3,000MW will be eventually transferred to the country’s national grid, but will be initially deployed in Delta, one of Nigeria’s largest oil producing regions, according to the company.

Both the governments have signed foundational agreements with the joint venture company which will result in production of clean, sustainable, cost-effective energy to support Nigeria’s needs.

The agreements were signed at the ongoing World Economic Forum on Africa between the Canadian and Nigerian governments.

Kerry Adler, president and CEO of Skypower Global, said, “This is truly a proud moment for Skypower FAS Energy. Global partnerships such as these are key to bringing together extensive expertise from around the world.

“The signing of these landmark agreements demonstrates the shared vision of a partnership that will further stimulate the vibrant, fast-growing Nigerian economy and substantially impact the state and country’s GDPs, resulting in increased employment and skills training.”

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