The Federal Government in Nigeria has met with developers to find a resolution to challenges which have led to developers not moving to site since signing power purchase agreements in 2016 for the 1GW solar power plants.
The 1GW solar power plants are worth $1 billion in new investment.
The discussions were held at a meeting hosted by the Minister of Power, Eng Abubakar Aliyu and chaired by the Minister of Finance, Budget and National Planning, Dr Zainab Ahmed. Also in attendance were the special adviser to the President on Infrastructure Eng Ahmad Zakari, financiers, development partners, the Nigeria Electricity Regulatory Commission (NERC), Nigeria Bulk Electricity Trading (NBET), electricity distribution companies and other stakeholders.
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Aliyu pointed out that 1GW of renewable energy can make a difference, considering the energy demands of Nigeria. The minister also said the government is confronting electricity challenges through the implementation of numerous initiatives and that current measures taken to improve electricity supply in Nigeria are yielding results. He said the government continues to explore diverse ways of ensuring the country’s electricity supply improves.
Zakari stated that the resolution of all issues delaying the take-off of the project will accelerate government’s commitment to achieving 30% of grid power from renewable energy sources by 2030.
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He further stated that diversifying Nigeria’s energy sources will balance the energy demands of the country and mitigate future occurrences of grid disruptions caused by gas supply challenges.
It is expected that developers will move to site this year and some of the projects should commence operation by 2023.