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Canada To Invest $5B In Producing 3,000 Megawatts Of Solar Power In Nigeria

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… Delta To Get 1,000 Megawatts
SAN FRANCISCO, May 08, (THEWILL) â€' Delta State has taken the lead in the generation of renewable energy as Canada invests five billion United States dollars in Nigeria to produce 3,000 megawatts of electricity.

The initiative of the state government to key into the green economy programme of the global community paid off as the Federal Government Tuesday evening, signed the Foreign Investments Protection Agreement (FIPA) with Canada to remove existing bottlenecks to smoothen the take-off of Canadian investments in Nigeria.

Similarly, Delta State Government signed a memorandum of understanding (MOU) with a Canadian investor, Skypower Energy to build and generate solar-powered electricity in the state.

Speaking at the ceremony, the Nigerian minister of Industry, Trade and Foreign Investments, Mr. Olusegun Aganga said that the Canadian investor, Skypower Energy, was investing N5 billion USD in renewable energy in the country.

According to him, the firm would be producing 3,000 megawatts of solar-based electricity for the national grid with the facility being deployed first in Delta State having taken the initiative for the renewable energy plant.

'Skypower will deploy first in Delta State which has taken the lead because of the enormous work the State has put in to ensure the realization of the renewable energy programme', the Nigerian minister stated.

He disclosed that the Federal Government will facilitate the provision of license to generate the solar-based electricity for the national grid with about 1,000 megawatts being generated form plants located in Delta State.

The Canadian minister of International Investments, Mr. Christian Paradis hinted that with the FIPA between Nigeria and Canada, more investors would be encouraged to invest in Nigeria.

In his remarks, Delta State Governor, Dr. Emmanuel Uduaghan expressed delight at the FIPA and the keen interest shown by the Federal Government noting that it was an endorsement of the initiative taken by Delta.

'This is very historic and emotional for me. For us in Delta State, we have keyed into the green economy programme of the global community. The green economy is not just in enhancing the environment but also meant to empower the people', he stated.

The Governor assured that Deltans would benefit from the 1,000 megawatts that would be generated from the state as some of it will be dedicated to the state.

Besides, he said that the FIPA was a big benefit from the World Economic Forum, Africa (WEFA) currently going on in Abuja.