- Siemens, a leading global engineering giant, and CT Cosmos, a Nigerian firm based in Abuja, have concluded a memorandum of understanding to construct a 70MW alternating current (MWac) photovoltaic (solar) power facility estimated at $170 million in Panyam, Plateau State.
- The project, which is expected to be completed in a less than two-year period, will supply the power produced into the national grid.
Existing solar plants in Nigeria are few, due to the relative high cost of generating solar power.
- However, this cost has declined in recent years as a result of enhanced technologies like those offered by Siemens.
- One major attraction of solar power plants is the short construction time-frame; completion period for a solar plant could be as short as 12 months, whereas construction of traditional gas/coal fired power stations could take as much as one to three years longer.
- The Chief Executive of CT Cosmos, Mr. Phillip Chukwueke, disclosed that his firm selected Siemens as technical partner for the construction of the Solar Power facility due to the company’s proven expertise in delivering high quality solutions, technical support and services.
- The 70MWac solar power plant is the first in a series of large solar power generating facilities proposed by CT Cosmos for various sites in Nigeria. Chukwueke stated that solar power is now approaching parity with traditional sources of energy and expressed his optimism that in the not too distant future it would become more cost effective to generate electricity from the sun than from hydro and thermal sources.
- Siemens General Manager, Power and Gas, -Nasir Giwa, expressed Siemens commitment to delivering the, project and stated that
“Siemens looks forward to working with CT Cosmos in delivering state-of-the-art technology and services to the Nigerian people who urgently require stable electricity to help meet the country’s rapid development.”