By Cross Udo, Abuja
Vice President Kashim Shettima said Nigeria’s energy transition journey and resolve to embrace clean and renewable energy solutions remain on track under President Bola Tinubu’s administration.
The Vice President stated this on Tuesday during the signing of the joint venture agreement between the Nigeria Sovereign Investment Authority (NSIA) and North-South Power (NSP) Company Ltd. for the establishment of the Shiroro Generating Company, Nigeria’s pioneer 20MW on-grid solar-hydro hybrid project, at the Presidential Villa.
Shettima, in a statement by his spokesman, Stanley Nkwocha, noted that the event “marks a significant milestone and will boost the country’s energy transition journey” and affirms President Bola Tinubu’s administration’s resolve to embrace clean and renewable energy solutions.
“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,” the Vice President noted.
The Shiroro Generating Company is a joint venture project between the Nigeria Sovereign Investment Authority (NSIA) and North-South Power, investing in a pioneer 20MW solar-hydro hybrid project in Shiroro, Niger State.
The 20MW Pilot Project (Phase 1a) is embedded within a more extensive 300MW solar programme, to be co-located within NSP’s existing 600MW Shiroro Hydroelectric Power Plant concession area in Shiroro, Niger State.
Speaking on the project’s significance, the Vice President said signing the 20 MW solar plant agreement is “a journey which is pivotal to our sustained growth and development as a nation.”
“As a nation, our resolve is to proactively diversify our energy sources, reduce our carbon footprints, and ensure a more sustainable future for future generations. This is a pioneering project in terms of hybridizing solar and hydropower.
“I believe that this is a harbinger of greater things to come. This project will attract further investments in the space by growing both the business and financial models for such projects,” the VP added.
The Vice President also commended the NSIA’s vision, innovation, and commitment to the project, noting 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 catalyze the realization of other hydro-solar projects and serve as a test case for deploying solar energy on the national grid.”
The VP then implored 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 in the project to ensure that they collaborate effectively with its sponsors to guarantee the 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.
Earlier in his remark, Minister of Power Mr Adebayo Adelabu said the initiative aligns with his Ministry’s critical priorities of increasing energy output and diversifying into renewable energy.
He said the project is expected to attract additional capital and utilize the country’s abundant renewable energy resources.
He said it is a testament to the potential partnership to ensure sustainable development.
For his part, Mr Aminu Umar-Sadiq, MD / CEO of NSIA, said the partnership “will deepen Nigeria’s clean energy portfolio, create jobs, and reaffirm 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.”
In the same vein, the Executive Vice Chairman/CEO of North South Power Company Limited, Olubunmi Peters, affirmed the company’s dedication to renewable energy solutions by stating its strategic intent to embark on this Solar-Hydro Hybridization 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 over-arching mandate to uphold the highest environmental and social responsibility standards, demonstrating innovation and market leadership.”
Officials from the NSIA, North-South Power, and other stakeholders in the power sector witnessed the signing ceremony.
