Pan Africa Solar has signed the nation’s first Solar Power Purchase Agreement with the Federal Government with a plan to invest $146m in building a new power plant.
Pan Africa Solar Chief Executive Officer, Mr. Marcus Heal, commended the Federal Ministry of Power for pushing ahead with its solar energy policy
He disclosed that the 11.5 US cents tariff was achieved through ‘’harnessing lower construction and lower solar panel prices and the commitments of the project’s Lender”.
The agreement was signed by the Federal Government and Pan Africa Solar, recently at the office of the Nigeria Bulk Energy Trader, NBET.
Speaking at the event, Vice-President, Prof. Yemi Osinbajo (SAN), who was represented by Mrs. Lolade Abiola of the Sector Lead Solar and Access Advisory power Team, Office of the Vice President, said once commissioned, the 75MW solar project will be the largest of its type in Sub Saharan Africa (excluding South Africa) and will provide power for 1.1 million Nigerians.
Apart from generating about 500 jobs for local people during the 12 month construction period, about 40,000 new jobs will be created from the additional economic activity stimulated by the power plant.
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