The Nigeria Sovereign Investment Authority (NSIA) and North-South Power Company Ltd (NSP) have inked a joint venture agreement for the establishment of the Shiroro Generating Company.
Vice President Kashim Shettima, speaking at the Aso Rock Villa during the signing ceremony, emphasized the government’s unwavering commitment to advancing clean energy initiatives.
The joint venture project, which entails the creation of a 20MW On-grid Solar-Hydro Hybrid project in Shiroro, Niger State, signifies a significant milestone in Nigeria’s energy transition journey.
“The Federal Government of Nigeria, under the able leadership of President Bola Tinubu, remains steadfast in supporting initiatives that drive economic growth, enhance energy security, and protect our environment,” stated Vice President Shettima.
The collaboration between NSIA and NSP, the Shiroro Generating Company is expected to be crucial in diversifying Nigeria’s energy supplies, cutting carbon emissions, and guaranteeing a more sustainable future. It is important because the project is a model for similar endeavours around the country because it combines solar and hydropower power.
Minister of Power, Mr. Adebayo Adelabu, appraised the initiative as aligning with the critical priorities of his Ministry, emphasizing the importance of increasing energy output and diversifying into renewable energy sources. This project not only signifies a leap forward in clean energy adoption but also promises to attract additional capital and harness Nigeria’s abundant renewable energy resources.
Mr. Aminu Umar-Sadiq, MD/CEO of NSIA, stated that the partnership between NSIA and NSP is set to deepen Nigeria’s clean energy portfolio, create job opportunities, and contribute to socio-economic development.
While Olubunmi Peters, Executive Vice Chairman/CEO of North South Power Company Limited, affirmed the company’s dedication to renewable energy solutions.
The signing ceremony witnessed the presence of officials from NSIA, North-South Power, and other stakeholders in the power sector, signifying collective efforts towards realizing Nigeria’s energy transition goals.
