28 September 2014, Abuja — The federal government quest to attract investment into the energy sector and boost electricity supply in the country has received additional boost, as a consortium of American Investors has indicated interest to invest in Nigeria and help develop the power sector.
The value of the proposed renewable energy investment is about $212 million and is expected to come on stream by the third quarter of 2015 to inject about 100 megawatts of electricity into the national grid.
The companies that have indicated interest in the project are Global Business Resources USA, Global Resources Network USA, Flatbush Solar USA and Charbourne & Parke, LLP USA.
The Group, which was led by Executive Partner of Global Business Resources, USA, Mr. James Nicholas made its intentions known during a courtesy visit to the Executive Secretary of the Nigerian Investment Promotion Commission (NIPC), Mrs. Saratov Umar. Nicholas said the group was in Nigeria to explore opportunities in renewable energy development under the umbrella of Power Africa Initiative of President Obama.
According to him, the group has already begun discussion with Abuja Distribution Company and will be visiting Kano for discussion on where to site the project and other logistics.
He added the group is desirous to embark on rural electrification project across the country with a view to supplying electricity to rural dwellers and provide relevant tools or device that will assist in monitoring and securing of electricity infrastructure in the country. Responding, Umar commended the businessmen for their interest to invest in Nigeria and help develop the power sector, which is very critical to the economic development of the country.
She pledged the commission’s readiness to provide them with all necessary assistance and support for the smooth take-off of the project in Abuja and Kano, stressing that NIPC as an agency of the federal government is mandated to encourage, promote, coordinate and monitor all investments in the Nigerian economy.