NSIA and North South Power sign JV agreement for Nigeria’s first 20MW solar-hydro project

The Nigeria Sovereign Investment Authority (NSIA) and North South Power (NSP) Company Limited on Tuesday signed a joint venture agreement to establish the Shiroro Generating Company, marking Nigeria’s pioneering 20MW on-grid solar-hydro hybrid project.  

The agreement, finalized at the Presidential Villa in the presence of Vice President Kashim Shettima, was confirmed in a statement by Stanley Nkwocha, the Vice President’s spokesperson. 

This 20MW on-grid solar-hydro hybrid project serves as the pilot project (Phase 1a) and is a component of a broader 300MW solar program.

This larger program is intended to be located within NSP’s established 600MW Shiroro Hydroelectric Power Plant concession area in Shiroro, Niger State. 

Speaking at the signing event, Vice President Kashim Shettima the signing of the joint venture agreement to establish the on-grid solar-hydro project showed that Nigeria’s energy transition journey as well as its resolve to embrace clean and renewable energy solutions is on track.

• “The Federal Government of Nigeria under the able leadership of President Bola Ahmed Tinubu remains steadfast in supporting initiatives that drive economic growth, enhance energy security and protect our environment,” the Vice President noted.  

Furthermore, the Vice President commended the vision, innovation, and commitment of the NSIA for the project, highlighting its significance in creating opportunities for economic growth and technological advancement, while also addressing the urgent need for clean and accessible energy.

He expressed that this project would catalyze the realization of other hydro-solar projects and serve as a test case for the deployment of solar energy onto the national grid. 

VP Shettima urged the Nigeria Electricity Regulatory Commission (NERC), Nigeria Bulk Electricity Trading Company of Nigeria, Transmission Company of Nigeria (TCN), Bank of Industry (BOI), and all other pertinent stakeholders in the project to collaborate effectively with its sponsors. This collaboration is crucial to ensure the timely delivery and operation of the project. 

 

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• The Minister of Power, Mr. Adebayo Adelabu, who attended the signing of the joint venture agreement for the establishment of the 20MW on-grid solar-hydro hybrid project, remarked that the initiative is in line with the crucial priorities of his Ministry. This includes efforts to boost energy output and diversify into renewable energy sources.  
• Adelabu emphasized that the project is anticipated to attract additional capital and leverage Nigeria’s abundant renewable energy resources, serving as a testament to the potential for partnerships to foster sustainable development.  
• On his part, the MD/CEO of NSIA, Mr. Aminu Umar-Sadiq, expressed that the partnership will enhance Nigeria’s clean energy portfolio, generate employment opportunities, and underscore their commitment to energy-efficient solutions for socio-economic progress. He emphasized NSIA’s role as a driver of positive change, guiding Nigeria toward a more sustainable future. 
• Similarly, the Executive Vice Chairman/CEO of North South Power Company Limited, Engr. Olubunmi Peters, affirmed the company’s dedication to renewable energy solutions by announcing its strategic intent to pursue the Solar-Hydro Hybridization Project.  
• Peters highlighted that the project underscores their sustained focus on renewable energy as a critical driver of economic growth. Through this initiative, they reaffirm their overarching mandate to uphold the highest standards of environmental and social responsibility, showcasing innovation and leadership in the market.