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Energy

Consortium of Western investors to inject upwards of $5 billion in Nigeria’s renewable energy sector

The group intends to deliver 1000MW capacity of Hybrid solar power within 24 Months.

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FG set to create at least 5 million jobs for youths in the power sector – Minister of Power , Consortium of Western investors to inject upwards of $5 billion in Nigeria's renewable energy sector, Power: Nigeria's deal with Siemens - the birth of a new era?

The Ministry of Power is in talks with a consortium of Western Investors that are set to invest upwards of $5 billion in the Nigerian Power Sector with a major focus on the renewable energy sector.

This was disclosed by the Ministry via its Twitter handle on Tuesday.

READ: Ikeja Electric’s Bilateral Power attains first year milestone as customers score service high

The investors, which were led by Mr. Ron Verraneault, pitched their proposal to the Minister of Power, Engr. Saleh Mamman at the Power House in Abuja.

The group, according to Verraneault, intends to deliver 1000MW capacity of Hybrid solar power within 24 months and partner in grid infrastructure development across Nigeria.

READ: These are the fastest growing sectors of the Nigerian Economy

With the Minister, at the meeting, are his Special Adviser on Policy Mr. Abba Aliyu, his Technical Adviser on Strategic Coordination Dr. Nurain Hassan Ibrahim and the Deputy Director Renewable Energy at the Ministry, Engr. Abubakar among others.

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Abiola has spent about 14 years in journalism. His career has covered some top local print media like TELL Magazine, Broad Street Journal, The Point Newspaper.The Bloomberg MEI alumni has interviewed some of the most influential figures of the IMF, G-20 Summit, Pre-G20 Central Bank Governors and Finance Ministers, Critical Communication World Conference.The multiple award winner is variously trained in business and markets journalism at Lagos Business School, and Pan-Atlantic University. You may contact him via email - [email protected]

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