The Nigerian federal government, through the Ministry of Power, has finalized a $2.2 billion solar PV deal with Sun Africa, a leading U.S.-based renewable energy solutions provider. The deal, announced by Minister Bayo Adelabu, involves Sun Africa committing to delivering 961 megawatts peak (MWp) of solar photovoltaic power generation infrastructure and 455 megawatt-hours of battery energy storage systems. The collaboration aims to address Nigeria’s increasing power demand, support economic and energy sustainability objectives, and transition to a more sustainable power mix.
- Deal Overview:
- The $2.2 billion solar PV deal with Sun Africa was sealed on Friday, November 17.
- Sun Africa commits to delivering 961 MWp of solar PV generation infrastructure and 455 MWh of battery energy storage systems.
- Government Representation:
- Minister Bayo Adelabu represented the President at the commissioning of the West African Power Pool’s (WAPP) Communication and Coordination Center in Cotonou, Benin Republic.
- Collaboration Details:
- Sun Africa’s commitment supports Nigeria’s power landscape and aligns with the Minister’s power sector transformation roadmap.
- The collaboration is seen as a crucial step in transitioning to a more sustainable power mix for economic growth and environmental responsibility.
- Financial Support:
- Financing partners ING Bank and Citi, backed by the United States Export-Import Bank, are supporting the Sun Africa deal with a commitment of up to $10 billion across several years.
- Sterling & Wilson Renewable Energy Limited is identified as the engineering, procurement, and construction (EPC) partner for the project.
- Government Vision:
- The collaboration is described as a milestone in advancing sustainable and reliable energy solutions for Nigeria, emphasizing the commitment to providing accessible and eco-friendly power.
- Minister Adelabu expresses gratitude to Sun Africa, financing partners, and all stakeholders involved in forging a path towards a brighter, greener, and more energy-efficient Nigeria.
Conclusion: The solar PV deal between Nigeria and Sun Africa represents a significant stride towards renewable energy infrastructure in the country. The collaboration not only addresses current power demands but also supports Nigeria’s sustainable energy goals and contributes to a more environmentally responsible power mix. The financial backing from international partners underscores the global support for Nigeria’s transition to renewable energy sources.