Minister of Innovation, Science and Technology, Chief Uche Nnaji has disclosed that his ministry will cooperate with companies that are eager and ready to invest in the renewable energy sector, especially companies with capacity to develop, build, own and operate (DBO).
The minister stated this while welcoming representatives of Hecate Global Renewables (HGR) from the United States of America to his office in Abuja, accompanied by their local partners, Bontus Group.
To show commitment to actualising a Public Private Partnership to build renewable energy plants, the minister signed a Memorandum of Intent with the American company.
While expressing willingness to work with any company that initiates tangible actions, the minister disclosed that many investors had earlier indicated interest in the renewable energy sector – solar, wind, and hydro.
He challenged the managers of HGR and Bontus Group to show seriousness by initiating actions to build facilities, pointing out that there are some abandoned solar power projects across the country that they could consider working to complete even as they initiate their own projects.
“My catch from your investment proposal is the establishment of solar panel and battery manufacturing factories in the country, because we have deposits of Lithium across the country especially in Nassarawa, Kogi, Kwara, Ekiti and Cross River states.
“I will therefore collaborate with the Minister for Solid Minerals to ensure HGR accesses the lithium for battery manufacturing in the country,” the minister said.
Ms. Catherine Jimmy Mfere, Head of Business Development, Sub-Saharan Africa, who represented the company’s CEO, David Wilhelm, said HGR has established solar power plants in some Africa countries, including Ghana – 60MW, Sierra Leone – 50MW, Gambia – 50MW, Malawi – 40MW and Zambia -100MW.
She said: “Nigeria is a huge market and we intend doing a lot in Nigeria including building solar power plants, establishing sola panel and battery manufacturing factories, advancement/application of battery storage technologies plus capacity building and workforce training.
“Our company strategy is the Public Private Partnership model of Develop, Build, Own and Operate. Our company has the capacity and capable partners to execute these projects.”
While responding, Director General of Energy Commission of Nigeria (ECN), Dr. Abdullahi Mustapha said ECN recognizes the need for renewable energy to reduce the country’s carbon footprint and contribute in the effort towards limiting global warming to 1.5 degrees celsius.
He said the country is targeting an investment of about N4.4 trillion in renewable energy, especially solar. He also stated that Nigeria is keying into the advice of the International Renewable Energy Agency (IRENA) for countries to increase dependence on renewable energy.