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Nigeria has signed a memorandum of understanding (MoU) with the US to improve electricity supply in the West African country
The MoU, part of the Power Africa initiative, was signed by Chinedu Nebo, minister of power in Nigeria, and James Entwistle, the US ambassador to Nigeria.
According to the agreement, a 1,500MW power plant and related power infrastructure would be built. The agreement would also coordinate the implementation and support of institutional reforms, privatisation and regulation of the power sector in the nation.
In Nigeria, the Power Africa initiative supports the strengthening of the energy sector through credit enhancement, grants, technical assistance and efforts to boost investments.
Entwistle said, ”We expect the joint effort will improve the lives of Nigerians and serve as a role model for other African countries whose implementation of energy sector reforms is nascent.”
In a bid to support the initiative and boost power supply in Nigeria, US-based company Global Edison Corporation has also signed two more MoUs.
Peter Nwangwu, senior vice-president of Global Edison Corporation Africa, said, “For the first MoU, we are building a 1,500MW gas-fuelled power station and for the second MoU, we are building a 70MW solar panel manufacturing company in Nigeria, which will be the largest in West Africa.”
With these two projects, Nwangwu hopes to provide clean power to Nigerian villages for the next 30 to 50 years.