The Federal Government of Nigeria has met with developers to find a solution to the challenges that have led developers not to move to the site since the signing of power purchase agreements in 2016 for the 1 GW solar power plants.
The 1 GW solar power plants represent $1 billion in new investments.
The discussions took place at a meeting hosted by the Minister of Energy, Eng Abubakar Aliyu and chaired by the Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed. Also present were the President’s Special Advisor for Infrastructure, Eng Ahmad Zakari, financiers, development partners, the Nigeria Electricity Regulatory Commission (NERC), Nigeria Bulk Electricity Trading (NBET), electricity distribution companies and utilities. other stakeholders.
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Aliyu pointed out that 1 GW of renewable energy can make a difference, given Nigeria’s energy needs. The Minister also said that the government is facing electricity challenges through the implementation of many initiatives and that the current measures taken to improve electricity supply in Nigeria are showing results. He said the government continues to explore various ways to ensure the improvement of the country’s electricity supply.
Zakari said that resolving all issues delaying the start of the project will accelerate the government’s commitment to reach 30% of grid electricity from renewable energy sources by 2030.
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He further said that the diversification of Nigeria’s energy sources will balance the country’s energy demands and mitigate future occurrences of grid disruptions caused by gas supply issues.
The developers are expected to move to the site this year and some of the projects are expected to start operating by 2023.