By John Moses, in Abuja
The quest by the Nineteen Northern states to boost power supply within the region, has begun with the registration of the investment vehicle that would implement the proposed 1000-megawatt (MW) utility-scale solar power project.
Christened Northern Nigeria Energy Company (NNEC), it is expected to drive all formalities, including liaison with regulatory agencies, inter-governmental departments, and financial institutions to deliver the project.
Dr Dahiru Mohammed, Chairman of the Presidential Implementation Committee for Technology Transfer, said in a statement, in Abuja, that the registration of the firm followed approval by the Northern Governors Forum (NGF), the main sponsors for the solar power scheme.
“NNEC has now been registered and is the vehicle for the implementation of the project,” he said.
Muhammed said the initiative, to be financed by the U.S. Export-Import (EXIM) Bank with the support of the U.S. Government, would deliver up to 1,000MW of solar generation capacity and 500MW of Battery Energy Storage Systems (BESS) across participating northern states.
He described the project as a significant milestone in Nigeria’s renewable energy drive and a reflection of strengthening economic and energy cooperation between Nigeria and the United States.
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According to him, the former Minister of Power, Chief Adebayo Adelabu, had earlier reviewed progress on the project’s structuring and governance framework.
He said the framework was designed to insulate the project from political interference, protect investments and guarantee repayment of financing throughout the project’s lifespan.
Muhammed added that a memorandum would be presented to the Federal Executive Council (FEC) for approval before full implementation of the project begins.
The proposed project forms part of efforts to expand Nigeria’s renewable energy capacity, improve electricity supply and diversify the country’s energy mix.
The inclusion of Battery Energy Storage Systems is expected to enhance grid stability and improve the reliability of solar power generation.
The initiative also reflects increasing collaboration between Nigeria and international development finance partners to address the country’s electricity deficit.
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He disclosed that; “A memo will be presented to the Federal Executive Council (FEC) for approval before full implementation commences.”
The Federal Executive Council is expected to consider the project for approval, after which implementation of the 1,000MW solar and 500MW battery storage initiative will commence across participating northern states.
The registration of NNEC marks a key step towards delivering a major renewable energy project that could add 1,000MW of solar capacity to Nigeria’s electricity supply while strengthening energy cooperation with the United States.
