Sun Africa pledges $2.2bn for Nigeria’s power sector devt

Sun Africa LLC, an international organisation that supports Africa’s energy needs, has pledged to commit about $2.2bn for the development of Nigeria’s power sector.

Minister of Power, Adebayo Adelabu, disclosed this after a meeting with representatives of Sun Africa, led by its Chairman, Goran Rajsic, according to a statement issued in Abuja on Sunday by the Federal Ministry of Power.

The FMP said the international firm would support the Federal Government in providing vital power infrastructure for Nigeria, adding that the commitment had been formalised.

“The initial phase of the project will focus on delivering 961 MWp of solar PV infrastructure and 455 MWh of battery energy storage, valued at approximately $2.2bn.

“Sun Africa, with its partners, is set to implement this transformative project in the coming months,” the ministry stated in its statement.

The statement quoted Adelabu as saying, “As Africa’s largest economy, Nigeria faces significant demands for new power infrastructure to support economic needs and transition to a sustainable.”

It stated that the commitment from all parties involved would ensure a close collaboration to execute the renewable energy infrastructure, addressing the nation’s electricity requirements.

On his part, Rajsic expressed excitement and thanked partners for their support in designing the project, featuring leading solar PV and battery storage technologies, financed with affordable, long-term debt under OECD guidelines.

The ministry stated that Sun Africa was also collaborating with Sterling & Wilson Renewable Energy Limited, its EPC partner, by playing a pivotal role in providing EPC services for the initial project phase.

It stated that the joint efforts signified a remarkable milestone in advancing sustainable and reliable energy solutions for Nigerians, aligning with the commitment to driving positive change through innovative renewable energy solutions