While at the signing of the joint venture agreement for the establishment of the Shiroro Generating Company, the Vice President of Nigeria, Kashim Shettima disclosed that Nigeria’s energy transition journey, and its resolve to embrace clean and renewable energy solutions are on track under the administration of President Bola Tinubu.
The signing of the Shiroro Generating Company, Nigeria’s pioneer 20MW On-grid Solar-Hydro Hybrid project, happened yesterday in Abuja and it is a joint venture project between the Nigeria Sovereign Investment Authority (NSIA) and North South Power (NSP) Company Ltd.
The 20MW Pilot Project (Phase 1a) is encapsulated in a larger 300MW solar programme, which will be co-located within NSP’s already existing 600MW Shiroro Hydroelectric Power Plant concession area in Shiroro, Niger State.
The Vice President noted that this step “marks a significant milestone, and will boost the country’s energy transition journey,” plus an affirmation of the resolve of President Tinubu’s aadministration to embrace clean and renewable energy solutions.
His words: “The Federal Government of Nigeria under the able leadership of President Bola Ahmed Tinubu remains steadfast in supporting initiatives that drive economic growth, enhance energy security, and protect our environment.”
Shettima said the signing of the agreement is, “a journey which is pivotal to our sustained growth and development as a nation.
“As a nation, our resolve is to take proactive steps to diversify our energy sources, reduce our carbon footprints, and ensure a more sustainable future for generations to come. And this is a pioneering project in terms of hybridising power in solar and hydro.
“I believe that this is a harbinger of greater things to come. This project will serve to attract further investments in the space by growing both the business, and financial models for such projects,” he added.
The Vice President applauded the vision, innovation and commitment of the NSIA over the project, adding that, “it is commendable as strategic partnerships like this will create opportunities for economic growth and technological advancement, while simultaneously addressing the urgent need for clean and accessible energy.
“This project will catalyse the realisation of other hydro-solar projects and serve as a test case for deployment of solar energy on to the national grid.”
He then entreated Nigeria Electricity Regulatory Commission (NERC), Nigeria Bulk Electricity Trading (NBET), Transmission Company of Nigeria (TCN), Bank of Industry (BOI), and other relevant stakeholders in the project to ensure that they collaborate with the sponsors to work towards a timely delivery and operation of this project.
“I also urge all stakeholders involved in this venture to uphold the principles of accountability, transparency, and inclusivity throughout the project’s life cycle,” he added
In his remark, the MD/CEO of NSIA, Mr. Aminu Umar-Sadiq, said the collaboration “will deepen Nigeria’s clean energy portfolio, create jobs, and re-affirm our dedication to energy efficient solutions as a lever for socio-economic development. It further exemplifies NSIA’s role as a catalyst for positive change, steering Nigeria towards a more sustainable future.”
The Executive Vice Chairman/CEO of North South Power Company Limited, Engr. Olubunmi Peters, confirmed the company’s dedication to renewable energy solutions and stating its strategic intent to embark on this Solar-Hydro Hybridisation Project,
He noted that the project, “is a testament to our sustained focus on renewable energy as an integral component of economic growth. Through this project, we have further revalidated our overarching mandate to uphold the highest standards of environmental and social responsibility, demonstrating innovation and market leadership.”
