The Nigerian government on Tuesday in Abuja reaffirmed its commitment to embrace clean and renewable energy solutions.
Vice-President, Kashim Shettima, gave the assurance in the Presidential Villa during the signing of the joint venture agreement for the establishment of Shiroro Generating Company, Nigeria’s pioneer 20MW On-grid Solar-Hydro Hybrid project.
The agreement is between the Nigeria Sovereign Investment Authority (NSIA) and North-South Power Company Ltd. (NSPC).
The Vice-President said the Federal Government, under the leadership of President Bola Tinubu, remained steadfast in its support for initiatives that drive economic growth, enhance energy security, and protect the environment.
“The joint venture agreement to be signed here today is a reaffirmation of our collective resolve to embrace clean and renewable energy solutions.
“As a nation, our resolve is to take proactive steps to diversify our energy sources, reduce our carbon footprints, and ensure a more sustainable future for generations to come.
“This is a pioneering project in terms of hybridizing power in solar and hydro and I believe that this is a harbinger of greater things to come.
“Beyond consummating this project, this will serve to attract further investment in this space by growing both the business and financial model for such projects,” he said.
He implored the Nigeria Electricity Regulatory Commission, Nigerian Bulk Electricity Trading Plc, Transmission Company of Nigeria, Bank of Industry, and other stakeholders to collaborate with the sponsors for the project’s timely delivery and operation.
“I also urge all stakeholders involved in this venture to uphold the principles of transparency, accountability, and inclusivity throughout the project’s life circle.
“I would like to express my sincere gratitude to the partners involved in this significant project NSIA and NSPC.
“Your vision innovation and commitment to this project are commendable. Through strategic partnerships, like this, we create opportunities for growth and technological advancement.
“The success of this project will catalyze the realization of other hydro solar projects and serve as a test case for deployment of solar energy onto the national grid,” Shettima said.
Earlier, the Minister of Power, Mr Adebayo Adelabu, said the initiative was in alignment with the critical priorities of the ministry in terms of striving to increase energy output and also diversifying into renewable energy.
“The project is expected to attract additional capital and utilize the country’s abundant renewable energy resources.
“It is also a testament to the potential partnership to ensure sustainable development,” Adelabu said.
Also, the Managing Director of NSIA, Mr Aminu Umar-Sadiq, said the partnership would deepen Nigeria’s clean energy portfolio and create jobs.
“It has also re-affirmed our dedication to energy-efficient solutions as a lever for socio-economic development.
“It further exemplifies NSIA’s role as a catalyst for positive change, steering Nigeria towards a more sustainable future,” Umar-Sadiq said.
Also speaking the Executive Vice Chairman of NSPC, Olubunmi Peters, said the company was dedicated to renewable energy solutions and affirmed its strategic intent to embark on the Solar-Hydro Hybridisation Project.
“The project is a testament to our sustained focus on renewable energy as an integral component of economic growth.
“Through this project, we have further revalidated our over-arching mandate to uphold the highest standards.
“Standards of environmental and social responsibility, demonstrating innovation and market leadership,” Peters said.
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