Nigeria, US Sign MoU On 1,500MW Power Plant
The Federal Government and the United
States of America on Thursday signed two Memoranda of Understanding to
build a 1,500-megawatts power plant as well as other infrastructure to
boost Nigeria’s power sector.
The agreements, which were as a result of
the Power Africa Initiative inaugurated last year by the US President,
Barack Obama, were signed at the headquarters of the Federal Ministry of
Power in Abuja.
The US Ambassador to Nigeria, Mr. James
Entwistle, who signed on behalf of his country, said with the
agreements, both countries had agreed to work together to increase
access to and availability of electricity in Nigeria.
He said, “In Nigeria, Power Africa
supports the strengthening of the energy sector through credit
enhancement, grants, technical assistance and investment promotions
efforts.
“Power Africa is working to mobilise
affordable and long-term financing for capital and operational
expenditure requirements for the generation and distribution companies
to accelerate the electricity market development.”
The Senior Vice-President for Africa,
Global Edison Corporation, Dr. Peter Nwangwu, stated that the agreement
would deliver 1,500MW power plant and solar panel company.
He said, “Two MoUs were signed today for
Global Edison. 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.
“The significance of this is that we will
be able to now power our rural areas and villages with reliable solar
panels that will last for 30 to 50 years. Imported panels have given
solar business a bad name, but when properly designed and installed,
they can be almost maintenance free for 30 to 50 years. And that is what
we intend to achieve here.”
On whether the MoU would focus on just
gas and solar power, Entwistle said, “We are not particularly committed
to any one kind of energy. What we are committed to is increasing the
overall vibrancy of the power sector. So, we are looking at solar, gas
and others.”
Source:punchng.com
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