Western investors to inject US$5Bn into Nigeria’s renewable energy sector

A group of foreign investors who intend to invest $5 billion in renewable energy projects across the country presented their proposal to Saleh Mamman, the minister of power, on Monday.

According to a Twitter post from the office of the minister of power, the investors pitched a proposal to build a 1000 megawatts (MW) hybrid solar power project within 24 months and partner in grid infrastructure development.

The renewable energy project is expected to expand the country’s electricity supply industry.

“A consortium of Western investors interested in investing upwards of $5 billion in the Nigerian power sector with a major focus on the renewable energy sector, just finished pitching their proposal to the Hon. Minister of Power Sale Mamman at the Power House,” the tweet read.

“The main partner Mr. Ron Verraneault led the presentation to the Hon. Minister while his other partners linked in via Zoom. They also intend to deliver 1000MW capacity of Hybrid solar power within 24 Months and partner in grid infrastructure development across Nigeria.

The Hon. Minister was joined by his Special Adviser on Policy Mr. Abba Aliyu, his Technical Adviser on Strategic Coordination Dr. Nurain Hassan Ibrahim,the Deputy Director Renewable Energy at the Ministry, Engr. Abubakar and his Technical Assistant on ICT and Digital Communications”

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Written by Andrew Odoe
Serial Entrepreneur, Humanitarian, Social Activist and Writer.
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