In a significant move towards bolstering the nation’s energy capabilities, the federal government has formalized a memorandum of understanding (M.O.U.) for the establishment of a 1 Gigawatt (GW) Solar PV manufacturing plant. This initiative, undertaken by the Infrastructure Corporation (Infracorp), was sealed in collaboration with Solarge BV of the Netherlands and the African Green Infrastructure Investment Bank during the 28th session of the Conference of Parties (COP28) in Dubai, United Arab Emirates.
Dr. Lazarus Angbaso, the Chief Executive Officer of Infracorp, outlined the project’s objective—to revolutionize Nigeria’s energy sector and elevate the economy to a formidable $1 trillion through the implementation of sustainable and climate-resilient infrastructure.
Expressing concern over the dire state of the country’s current power situation, Minister of Power, Adebayo Adelabu, highlighted challenges such as inadequate transmission infrastructure and limited distribution capacity. Emphasizing the urgency of the matter, Adelabu stated that renewable energy is not merely a future aspiration but an immediate necessity.
Commending the Infracorp-led consortium for successfully securing the solar manufacturing plant in Nigeria, Coordinating Minister for the Economy, Olawale Edun, pointed out the substantial market size for solar energy in both Nigeria and the wider West Africa region, as indicated by available data.
