A field of solar panels in Babcock Ranch, Florida in December 2023
AFP

Nigeria Sovereign Investment Authority (NSIA) and North-South Power (NSP) Company signed an agreement on Tuesday for the establishment of the Shiroro Generating Company, the country's first 20MW On-grid Solar-Hydro Hybrid project.

The 20MW Pilot Project (Phase 1A) is part of a larger 300MW solar program set to be located within NSP's existing 600MW Shiroro Hydroelectric Power Plant concession area in Shiroro, Niger State.

During the signing ceremony, Vice President Kashim Shettima noted that Nigeria was committed to its energy transition and adoption of clean, renewable energy under the directives of President Bola Ahmed Tinubu.

"I believe that this is a harbinger of greater things to come," Shettima said, Punch reported. "This project will serve to attract further investments in the space by growing both the business and financial models for such projects."

The vice president also shared that "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 catalyze the realization of other hydro-solar projects and serve as a test case for deployment of solar energy onto the national grid."

Shettima urged the Nigeria Electricity Regulatory Commission (NERC), Nigeria Bulk Electricity Trading (NBET), Transmission Company of Nigeria (TCN), Bank of Industry (BOI), and all other relevant stakeholders to work closely with the project sponsors to ensure the timely completion and execution of this project.

CEO of NSIA Aminu Umar-Sadiq pointed out that this partnership "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."

He added, "It further exemplifies NSIA's role as a catalyst for positive change, steering Nigeria towards a more sustainable future."

Executive Vice Chairman/CEO of North South Power Company Limited Olubunmi Peters also shared similar sentiments regarding this partnership and affirmed the company's dedication to renewable energy solutions.

He explained that this project is a "testament to our sustained focus on renewable energy as an integral component of economic growth," noting that with this Solar-Hydro Hybridisation Project, the company "have further revalidated our over-arching mandate to uphold the highest standards of environmental and social responsibility, demonstrating innovation and market leadership."

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