In a significant move towards enhancing energy reliability, the Nigerian federal government, through the Infrastructure Corporation (Infracorp), has signed a memorandum of understanding (MOU) for the establishment of a 1 Gigawatt (GW) Solar PV manufacturing plant.
The agreement, inked with Solarge BV of the Netherlands and the African Green Infrastructure Investment Bank, took place at the 28th session of the Conference of Parties (COP28) in Dubai, United Arab Emirates.
The Chief Executive Officer of Infracorp, Dr Lazarus Angbaso, outlined that the project’s goal is to revolutionize Nigeria’s energy sector, contributing to the elevation of the economy to $1 trillion through sustainable and climate-resilient infrastructure. The signing of the MOU underscores Nigeria’s commitment to advancing renewable energy initiatives and addressing challenges in the power sector.
Minister of Power, Adebayo Adelabu, emphasized the urgency of addressing the dire power situation in the country, citing issues such as insufficient transmission infrastructure, limited distribution capacity, and challenges hindering generation. Adelabu highlighted that renewable energy is not just a future aspiration but a present necessity.
Commending the Infracorp-led consortium for securing the manufacturing plant in Nigeria, Coordinating Minister for the Economy, Olawale Edun, referred to available data indicating a substantial market size for solar energy in Nigeria and the broader West Africa region. This initiative aligns with broader efforts to enhance energy access, sustainability, and economic development in the region.
