Foreign investors table proposal for $5bn renewable energy project to FG

OBINNA EZUGWU

A consortium of foreign investors looking to invest $5 billion in renewable energy projects across Nigeria on Monday, presented their proposal to Saleh Mamman, the country’s minister of power.

This was disclosed by the ministry via its twitter handle, @PowerMinNigeria.

According to tweet, the investors pitched a proposal to build a 1000 megawatts (MW) hybrid solar power project within 24 months and partner in grid infrastructure development.

The renewable energy project is expected to expand the country’s electricity supply industry.

“A consortium of Western investors interested in investing upwards of $5 billion in the Nigerian power sector with a major focus on the renewable energy sector, just finished pitching their proposal to the Hon. Minister of Power Sale Mamman at the Power House,” the tweet read.

“The main partner, Mr Ron Verraneault, lead the presentation to the Hon. Minister while his other partners linked in via Zoom. They also intend to deliver 1000MW capacity of hybrid solar power within 24 months and partner in grid infrastructure development across Nigeria.

“The Hon. Minister was joined by his Special Adviser on Policy Mr Abba Aliyu, his Technical Adviser on Strategic Coordination Dr Nurain Hassan Ibrahim, the Deputy Director Renewable Energy at the Ministry, Engr. Abubakar and his TA on ICT and Digital Comms Engr Abba.”