NSIA, North-South Power seal agreement to boost Nigeria’s energy transition

Cynthia Ezekwe

The Nigeria Sovereign Investment Authority (NSIA) has entered into a joint venture with North-South Power (NSP) to establish Shiroro Solar, a groundbreaking 20 megawatt (MW) on-grid solar-hydro hybrid project.

The Shiroro Solar project is considered a significant advancement in Nigeria’s journey towards a more sustainable and environmentally friendly energy system. This is as the project is aimed at reducing the country’s reliance on fossil fuels, which are a major source of air pollution and greenhouse gas emissions.

The details of the deal were released in a statement by Stanley Nkwocha, senior special assistant to the president on media and communications. According to Nkwocha, the 20 MW pilot project (phase 1a) is part of a larger 300 MW solar programme that will be co-located within North-South Power’s existing 600 MW Shiroro Hydroelectric Power Plant concession area in Shiroro, Niger State. 

Vice President Kashim Shettima, who spoke at the signing ceremony, emphasized the significance of the project as a catalyst for the realization of other hydro-solar projects and as a case study for the deployment of solar energy onto the national grid. Shettima also stressed the current administration’s commitment to adopting clean and renewable energy solutions. 

 Shettima commended the vision, innovation, and commitment of the NSIA to the project, emphasizing the importance of such strategic partnerships in promoting economic growth, technological advancement, and addressing the urgent need for clean and accessible energy. 

“As a nation, our resolve is to take proactive steps to diversify our energy sources, reduce our carbon footprints and ensure a more sustainable future for generations to come. And this is a pioneering project in terms of hybridising power in solar and hydro.  I believe that this is a harbinger of greater things to come. This project will serve to attract further investments in the space by growing both the business and financial models for such projects,’’ he stated.

The vice president urged the Nigeria Electricity Regulatory Commission (NERC), Nigeria Bulk Electricity Trading (NBET), Transmission Company of Nigeria (TCN), Bank of Industry (BOI) and all other stakeholders in the project to work together with the sponsors to ensure the timely delivery and operation of the project. 

Adebayo Adelabu, the minister of power stated that the initiative is anticipated to attract additional capital and leverage the country’s abundant renewable energy resources, highlighting the promise of the partnership for sustainable development. 

“Aminu Umar-Sadiq, managing director and CEO of NSIA, noted that the partnership would strengthen Nigeria’s clean energy portfolio, create jobs, and reaffirm the country’s commitment to energy efficient solutions as a driver of socio-economic development.

Olubunmi Peters, executive vice-chairman and CEO of North-South Power Company Limited, stated that the project is a reflection of the company’s long-standing commitment to renewable energy as a driver of economic growth.